Re: rg 350 questions
Hey, I can't properly answer all of your questions, but the 2010 wizard II is actually the same spec as the wizard III, they just renamed it in 2011 to prevent confusion.
About adjusting your action, the Edge III has cheaper metal than high end trems, obviously, so if I were you, I would not loosen my strings, instead I would undo the two outer springs for the trem - that will relieve a lot of tension, and will make it so you will not need to retune when you put the springs back on! It works like a charm for me every time!
Good luck and welcome to jemsite!