Elmer,
1. Loopback addressing: Consider that you have a router with two serial connections to
its peer at the ISP. If you used a physical address of one of the serial ports, and
that line went down, the BGP session would terminate and would not switch over to the
unused (and active, btw) line. Loopback addressing assures that the session will
remain up in this case.
2. Weight can be set from 0 to 65535. Default for locally originated routes is 32768,
and for other routes is 0.
3. You want both lines set up with routes to the BGP neighbor in case one line fails.
This will only affect traffic bound directly toward the ISP network, not other traffic
that may be trying to transit up toward the ISP....
Good luck!
Frank Jimenez, CCIE #5738
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