Dumping ShareSpace for WorldEdition - Mac reasons, need to check please

I unpacked a 4TB ShareSpace yesterday, having fell for the WD sales blurb that says it’s “Mac Ready” and because it offers effective 3TB using RAID 5.

After 30 minutes of battling I could get it working - visible to my Mac, but not able to do why I wanted it, which was:

1.  I have several Macs in the house, I need to be able to create bootable partitions on the NAS as I run a backup - I can’t do that if the NAS presents itself as one fat monster that Disk Utility can’t even see.  I could find nothing in WD documentation indicating that I could configure the single volume using the browser interface to the ShareSpace.

  1. Time Machine does not even see the NAS.  (yes, I have latests firmware and latest OSX).  WD support document says " Important: Older Western Digital Network Drives such as the NetCenter, MyBook World (Blue Rings), and WD ShareSpace are still unable to be used with Time Machine.

What?  I bought the thing yesterday and they sold it as Mac Ready, now it’s an old technology and can’t work with Time Machine or Disk Utility?  Even if I get Time Machine to “see” the WD through a hack, I have multiple Mavs in the house and if I let them loose on folders on the NAS they’ll simply fill up the NAS in no time at all. 

Anyway, I now need to please confirm from somebody independent of WD sales that if I get the World Edition II (white light) NAS, then I will indeed be able to:

1.  at inception partition the single “drive” into several drives using Disk Utility.  All of these will be Mac OS Extended formatted.  Would partitioning result in my losing the data WD starts off with on the NAS?

2.  have Time Machine see these new partitions as volumes to which I can then direct different Macs in the house?

3.  if I have Time Machine and other utilities running backups to the NAS, should I set the device up with static IP address and should I set the share up as smb or what else?

Much appreciated!