1. Yes, the highest possible lvl 8 pet and all the 12+ pets hit magical
2. 34 w/ weapons, 44 w/o
3. Pets can get a damage boost for high damage weapons as well as procs. They ignore the delay. A two handed weapon will prevent dual wielding. Giving the lower level pets rusty halberds is popular.
4. Can be done safely in moderation but remember to wash your hands after, and don't get any in your mouth/eyes.
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