I don't see why it wouldn't be, other than possibly an old Python version due to OpenSUSE 11.2 being a few years old now (which is certainly fixable if that would be an issue by downloading Python 2.7 source and compiling it).

Create bazaar branches to pull code directly from launchpad.net, then get any dependencies (all python libraries, plus PostgreSQL). Check the documentation for more info.

Yes you can. You just need to install OpenERP from source (which is the best way to install OpenERP on Linux)

look openerpgt.wordpress.com :) I only work with opensuse :)