I am sure someone will be along with a better answer than me shortly - but

1) Yes you can charge to access your board - PayPal is already integrated into the script and others have very succesfully integrated other payment vehicles
2) Set up is a script controlled method (unzip the files - ftp them to your server and then run the installation routine from a browser) and is pretty straightforward PROVIDED you have read the installation requirements and this is sorted BEFORE you start. It is well worth looking at a host that has already set servers up for this script - I use http://hostonnet.com/ and cannot fault them.