It is not designed to, but if you absolutely, positively needed it to save to a micro sd card, might be able to creatively finagle something. First the scanner is not able to save anything internally, and is dependent on the computer with supporting twain driver and software which it connects to with a full size (not micro or mini) USB cord that virtually rules out anything that naturally would have a micro sd card. In theory you could direct the save to the SD card slot on the computer, usually full size SD, where you have inserted a micro sd card in an adapter. A lot of work. Just save to the hard drive on the computer and copy/paste to other instruments as appropriate.

Not really as it is designed for and provides film holders for 1" wide 35mm, and 2" wide 120 film. ...HOWEVER.... with careful placement, not using a provided holder, you MAY be able to get most with a little side cropping. The scanning lamp the shines through the film has an opening of 3 1/4 x 10. Never tried it, but in theory might be possible.

1) Yes. Storing in the computer is the default. For easy organization, make a folder, such as "Scans" and one of the last steps before scanning is selecting where you want to save it on your computer. It will remember it from the prior scan, so only need to do once unless you have another group you want in a different folder.

2) Sort of. After scanned, can go into the folder and change the file name from the default IMG(number sequence) to whatever you want. However, writing a blurb , not under, but technically on the picture, or in the border under, would require some special photo software with text capability.

That is actually the reason I bought it, updating my old V100 which was 35mm only. My wife found some old 120 film negatives of her as a child she had never seen. Initial quote from camera store at $0.25 each to print was reasonable until I brought them in and discovered was not chemical based processing but needed to be digitized at $5 each to inkjet process. Did the math and that paid for a new scanner! It is not really a tray but the V550 comes with two plastic guide holders - one 35mm the other 120mm film/slides - that lays on the glass platten with the side tabs positioning it correctly. 600,616,and 620 are the 2" wide 120 film. Just a matter if 2 or 3 can go on the platic guide.The white pad in the lid pulls out and exposes the lighting unit for negative/slides which the film in the plastic guide will be directly under. Within the software, I use the "Professional Mode". When you select film as the document type, the resulting scan is a positive, so no other software is required...but I do use Photoshop later for cleanup and cropping before printing. I upped the scan to 1200 dpi for both slides and negatives to give large enough file to enlarge from such a small scan area. Also, while suppose to "smartly" identify breaks for one scan, but had problems recognizing the breaks. Loaded 3 negatives, previewed, selected and scanned individually