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1) here are the supported regions. Do you fall under any of these?

https://en.m.wikipedia.org/wiki/PlayStation_Now

2) you should be able to set up a SEN account and top it up using PSN credit that you can buy from various retailers.

3) your connection speed should be fine for games not needing twitch reactions and if it's sp. I wouldn't recommend it for MP unless it was chess or timing wasn't required.

4) I suppose if you haven't played any ps3 games it is worth it for some titles. I played it at launch and tried out a variety of games from old school Sega classics like Sonic to Blazeblue.

Back then I had a 50mb connection and was getting 12-17mb on my ps4 (I'm getting more now).

All the games worked fine and you couldn't even tell the games were being steamed until I put on BlazeBlue. The game was a bit laggy here and there especially when the fx kicked it. For a fighting game it was a big no no.

I played uncharted for abit which looked beautiful and played well, but I didn't play it long enough to know how well it would do it the more demanding scenes.

I would get a trial and see if PSNow has enough games you are interested in to warrant a purchase. You should also be able to test the streaming out this way.

I would recommend you buy a PS3 since they are dirt cheap, but if the games collection hasn't sold you already, it won't now and I suppose buying tons of games might work out more expensive than a PSNow subscription.