quikboy - Try the following to address your questions about fonts and sizes:
a. In the menu bar, click Format, and then click Font.
b. This will display the Font window that allows you to change the font, style, size, and color.
There are numerous fonts and sizes that you can choose from to allow you to customize your post.
You could cheat with the smileys and emoticons, by taking a screen shot of the ones you are interested in and inserting them as images.
I wrote up a more detailed post with screen shots Changing Fonts in Windows Live Writer
Hope this is helpful and answers your questions. I didn't answer all your questions so I can understand you won't be really happy, but hopefully this will help you to at least be happy.