I've never seen a website that puts it's terms and conditions at the fore front. It's already in the help tab, as well as at the bottom of every page. In addition, you have to agree to it when registering.
You can change the URL to your terms in the admin CP, or you can modify the term page to include whatever rules you need.
Well I think like I said somewhere else I'm shootin blind here without something tangible and I'm not a coder and am learning hands on currently to become one. I may just not address anymore concerns until after it's released since as a result of this, most of this issues I can think of seem out of context to everyone as I always used my forum software as a backbone to my home/mobile media solution because it was the easiest way to customize a nice layout and have all the pages conform and just look great when on a bigscreen. More recently I have been trying to understand how to make really nice customizations to vbulletin and find my self stuck because it is so hard to find what i need to actually edit. That being the case, my only one general concern is the overall ease of customizing it myself. Sorry for wasting time.