The majority of the information provided here comes from an assortment of rulings for both the TCG and OCG, including my own personal correspondences with Konami
The second effect is unique to the series, enabling members of the "Cubic Beast" series (except "Dark Garnex the Cubic Beast") to attack a number of times per Battle Phase equal to one less of their Levels, and members of the "Cubic King" series to inflict 800 damage to the opponent when they are Special Summoned from the hand
Creakwood Liege is my personal pet card so I can't tell you how good it feels to see it
It isnt bad, but its something thats been done before and better
In fact, you cant even get a Black Lotus (or any piece of Power for that matter) from one of the answers
This gives players a unique level of control over what cards they draw, effectively always giving them two options for what card they'll draw next turn