Dick,
I was not a big fan of this subject either given all that has been discussed. As far as your questions, there is no sight glass in the new system to see air in the fuel flow.
1. The old Racor design pre filter screen is problem prone due to aged plastic and orings, so most of the time you are seeing leaks from the unit itself, which on balance is not a great trade off, so that is not an over riding reason to hang onto it. If you had an air leak somewhere in the fuel system a sight glass would then be installed to diagnose it and moved to isolate the leak source.
2. When you get a replacement pre filter look for one that has a plastic sight bowl or a means to drain at the bottom of the prefilter. You can then drain any visible water accumulation off if you are concerned about water accumulation. These designs are not problem prone given it is a screw on assembly not relying on friction fit of several orings like the old Racor design. You can discuss this possibility with Cat. The new fuel is much cleaner and less prone to having water issues from storage but you never know for sure.
3. The primary filter is usually separating water and filtering larger particles to keep them from
plugging the 2 micron Cat final filter media. Usually the rating size of the primary is somewhere between 10 and 30 microns and any of those ratings should do the job. Too small a particle rating would be unwise given the system may become too restrictive to fuel flow. The rating of the Racor 30 micron filter is 98% removal at 30 microns so it is also filtering much smaller size particles at varying efficiencies.
This unit is a good buy and has an integrated pump. You would have to check to make sure it is 12V and may already have integrated the water probe and drain feature. This unit is not prone to any of the issues that the old Racor design had and has a changeable pump.
http://www.nwrvsupply.com/product/790R30.htmlThere is a Racor unit with a manual pump also. Cat may offer a prefilter unit with a pump also. I am still an advocate of having a way to purge air out of the filters before cranking the engine. You can discuss that issue with the Cat dealer and sort out your own degree of comfort on this. Hope this helps.
Later Ed