(1) - How do I change the Mouse pointer image in BlitzMax?
You draw an image at the current pointer coordinates. (2) - does someone have a function that returns the current framerate?
Yes. (3) how can i perform a fullscreen fade to/from black on an image
Use SetAlpha and draw a Black Rectangle over it. Look in OldSkool2.bmx for an example of this. (4) does max support anything but .ogg and .wav? such as MP3?
No. You need a commercial (and expensive!) license in order to use MP3. How do I use RELEASE to FREE that image again?
You don't. BlitzMAX does this for you, when it determines that you no longer need it, or at least have no way of referencing it.