This should answer most of your questions:
http://www.eqemulator.net/wiki/wikka...akka=PlayGuide
Yes, you need SoF to be able to enter SoF zones and use other SoF stuff (new Drakkin player race, new items, 8 additional bank slots, etc etc). Just get SoF and install it just like you would for Titanium. You can install SoF to a separate folder so you have both versions depending on which server you are playing on and what-not.
I don't think many servers are making much use of SoF yet, but I have a few zones populated for starting out up to about level 40 so far on Storm Haven. So, you can always check some new content out there if you do wind up getting SoF. There may be a couple other servers out there making use of it, but I don't know which ones, if any, use it off the top of my head.