That is actually the exact rig I bought in July. For my first taping rig, it's been great. I don't know how serious I'll get since the majority of my work is stealth, but it's definitely a great package for the price in my opinion. In answer to your questions:
1) AGC? I'm fairly new at this stuff as well, so maybe I'm just missing the lingo.....
2) I've been told by people on here and a sales rep at Sound Professionals that you really don't need the bass rolloff unless the bass is overwhelmingly loud. With that being said, I got the bass rolloff anyways just in case I needed it down the road. I've taped every show at 69hz and each have had perfect amounts of bass. Off the top of my head, I think 70 hz is the frequency of bass that your body responds to or something? Anyways, I've got amphitheater, bar, club, and theater tapes that all sound fine with 69 hz set on the bass rolloff.
3) One thing I learned the hard way: I was open-taping a friend's band at a local bar when the h120 continuously red-lined every few minutes. When it did that, the red light would stay on for 5 seconds or so, no levels would be showing, and the recording timer would freeze. I thought something was going wrong so I was constantly checking connections, then unplugging and plugging stuff. I listened to the recording that night and everything sounded fine, except for when I unplugged something and then plugged it back in. Don't ask me why it sometimes does this, but unless it goes minutes (rather than 5 seconds) doing this, don't freak out.
4) We don't like to discuss stealth tactics on here since it's an open board. Send me a PM and we'll talk about this and any other questions/comments you have. I'll do my best to help since I have the same rig, but I think others may be better at answering your more technical questions.