In answer to your questions:
1. Classipress includes an advanced search functionality within the category view page where the results can be refined to location or other custom fields. You can see this from the
ClassiPress demo site in the sidebar.
2. The featured listings slider appears only in the homepage by default.
3. Users don't post sponsored ads, these are configured by the site admin in the ClassiPress advertising settings.
4. You can choose to moderate ads before they are published if you are concerned about listings.
5. There are no settings for listing order based on price paid for the ads.
6. If published immediately the success message will appear on screen to confirm the ad has been posted and is live. If it requires moderation, a success email is sent once you approve the ad. Thanks.