1) Yes, click the blue orb > preferences > folders to change path/have it prompt for path on each install.
2) The download for 1.12 now is probably a little over 1gb, then it needs space for temp files from extraction, and another 1.5gb and change for the actual install. The temp files are on C:\ by default but you can change this also the same way as the install path in 1).
