does it allow for upgrades? what 3rd party hardware is supported? can i install my own OS on it?
Upgrades seem unlikely. I’m sure you can attach most anything via USB. This is one of the few computers that can run OS X, Windows and Linux.
As I read it, you can open the case and upgrade the memory.
What third party hardware is supported?
Like most modern Macs it supports nearly anything with a USB connection. That means that most 3rd party input devices like keyboards and mice work, most external drives (floppy, hard, DVD, flash, etc.) work. It also has connections to work with third party display monitors.
Can I install my own OS on it?
I use VMWare Fusion on my Mac to run OSX, Windows XP, Windows 7, and Ubuntu SIMULTANEOUSLY. Let's see any Windows based PC do that.
Yes, Yes, and Yes. Of course that would make it PC, is that your intention?
If I were starting in computers, (as I did in 1978) the Mini is what I'd start with. You will have to look a long time to find a better engineered and designed piece of hardware...
Yes, to all 3 questions.