To quickly answer your questions
the Encryption ‘I Believe’ is disk based
I believe it doesnt encrypt memory sticks far as i know but it does encrypt anything possible with NTFS … (I’ve noticed it wont encrypt my FAT32 Flash Drive but it will with my other NTFS Flash Drive…
; It will if you wish it to encrypt your Partition.
COMODO Disk Encryption 2.0 BETA is availavle for download.
The encryption is performed at disk level. You will be able to encrypt any disk. On the fly.
You will be able to mount encrypted virtual disks
you will be able to encrypt files using encrypted zips.
Why encrypting the USB stick? You may do a trick: Mount an encrypted virtual disk and save it on the USB memory stick. In this case you will have a private area on your memory stick, and you will be able to access that private area form any other computers where CDE is installed.