First, check out Brad's Page of Steel. You will find answers to many of your questions as well as other things to consider. HTTP://www.well.com/user/wellvis/steel.html

Your choice of square neck vs round neck will be determined by the style of playing you wish to pursue. I don't know what instruments are available in your part of the world, but make a point to play expensive as well as inexpensive guitars to know how they sound and play. My guess is that you will do better with a better previously owned instrument, but as stated in an above post, your ear is the final judge. Good luck!

RMan