I don't think I would even NEED a lawyer, I mean, even if I agree with whatever they're asking for, I'm not worth anything. Can't get blood from a stone.
That might be true, but that probably won't be true forever.
Yes, at the present time, there is absolutely nothing to gain from suing me or GLBSE. In the future that may change.
I imagine setting up as a formal business makes you a slightly better target. How's that going by the way?
Edit: completely wrong phrasing.