1. Yes, your translation is correct.
2. Yes, this is not the more common futhark for the era IN SCANDINAVIA. I would choose the other one myself, but that's a purely personal choice.
3. Odin has two ravens, Hugin and Munin, but the symbol in the picture is an often used symbol from a popular asatru website. The tat that's been copied in the pic is their logo. I think it's Wodens Harrow's site, but I can't remember right now. Google them, and there you might find the origin of the symbol with the three ravens. Someone bought me a bracelet with the same three ravens, and I have since seen it for sale as a Celtic bracelet...
4. Yes, be very sure to respect the numbers. Be sure why you're putting three ravens on there before you do. Be REALLY sure that you THINK before you put a Valknot on your skin, for damn sure. Do not put one on there unless you are really sure that A. you really are one of Odin's warriors and are fully ready to die today, and B. are really ready to defend yourself and your choice in tat, as the Valknot in some parts of this world has been used as a symbol for right-wing supremacists. I have an aegismundr tat myself, which to the best of my knowledge does not symbolize any particular political group, and I still have to explain that I am not a nazi quite often. I see that as a teaching op, but you might get sick of it...
5. The two ravens symbolized memory and thought, yes, and the wolf is also Odin's animal, but the eagle comes in more as a sort of totem animal, and so can also be said to be a symbol of Odin. Exactly right, Pagan. Different aspects of the same god.
If you want to find cool pics with runes for inspiration, google "runestones". If that doesn't work, PM me, and I think I can get you to a good picturebank-site. Good luck! T.