Recent Topic--options?

The Recent Topic module seems to work well--is there a way to add the follolwing functionality?

1) For Guests, it would be great if they could see the the module so that they could be enticed to register. Clicking on a link would lead to a "you must register" page. Otherwise the existence of the discussions is a secret! This is a major feature, in my opinion...

2) Is there a way to show the first x number of words of the posts, rather than just the topic? On boards that I participate on this (seeing the gist of the posts) is a HUGE motivator to respond. Really good for discussions.

3) Is there a way to format the time/date text? For example, the list of recent posts is a very busy, dense block of text. Maybe get rid of needless infio like the exact second a post was made? Maybe just the day but no time would be good enough? Or how about a "x hours ago" versus the actual time?

4) Is there a way to change the scroll speed to something lower than "1"? On my machine that is already challenging to read--changing it to "10" is hilarious! It's almost a blur...

--Darin