Jist of it

Playing on the metaverse is the exact same as playig a normal, unmoded game. What it does is allows you to post your final scores online for the world to see. As you score points, you earn medals (examples of which you can see at the bottom of my post). Metaverse games do not allow cheating, and there are only a few mods that are compatable (I only know of Kyro's metaverse hull pack), this is to make sure that everyone is playing the saem rules, and thusnot able to manipulate points.

As to whetehr or not it's worth it, that's a matter of opinion. I used to post games up, but have not done so in months. It's not that big a deal to me. But give it a try, you might like it.

Yea and as you gain point people will want you to join Empires which are just communities of players that compete for galactic control based on the points each player earns for the Empire. The more point the Empire has the more of the galaxy it gets.