I am planning on entering Second Life, purely for messing around. What I need is some answers to a few questions
1) Is it legal to buy and sell accounts?
I'm going to guess not.
2) How hard is it to track griefers?
That depends entirely on the method of griefing. If it's a no-script, no-build region, griefing is... difficult.
3) How hard is the programing aspect?
I stuck mainly to modelling in my time there, and it always takes me a while to get the hang of scripting languages (not programming languages) - it's not too difficult if you have prior experience, but you need to learn the names of objects, etc.