I'm not one of the hiring guys, but if my personal opinions count as well:
1) I think any length that gets the information across is good enough. If you can knock it all out in 5m, great. If it takes an hour, same thing. The goal is to learn all the intricacies
2) This is a definite. Including source code that is altered (so as to follow along)
3) I can't answer that one
I do appreciate the feedback, yes 5 minutes is very ideal, however for the knowledge on one to learn how to do this without prior knowledge of any programming whatsoever and just want to start up a clone coin... 5 minutes wouldn't cut it, I'm thinking about 30-90 minutes worth of educational video, which I'll start working on here. Since seeing so many people are clueless when it comes to this, and I for one love to help others out in all regards, so I'll be taking up this project.

I have every development platform out there from *nix (Debian, BSD, Gentoo, Fedora, Ubuntu, CentOS), OSx, Windowz (back to 3.2) along with Sony Vegas Pro 13 for the rendering and final product. So I'm happy to start on this project in my free time and get this up ASAP.
All the best
This sounds awesome! Are you going to be covering other aspects as well, like compiling the various clients, getting the first block mined, how to set up nodes, etc.?