Yes, it is possible, there are lots of parties involve in developing the FPGA units, depends on which is the cheapest of all.
Hope they will come cheap.....and fast, litecoin is loosing more and more weight$$
Litecoin FPGA is possible, but if they come cheap everyone would buy it and the difficulty would increase and profit drop. Just like what happen to Bitcoin and ASIC.
Nope, difficulty may help to increase value, but the coins become more valuable with the more places or services you can use them with.
By the way that FPGA for Litecoin is not worth it as you can by 8 7950's that will give you more hashrate and with only cost roughly $1500 if you get them for a relatively good price and $400 is miscellaneous computer hardware. So its half the price for more performance. Not to mention the resale on computer hardware is way better and 2,000 savings buys a LOT of power.
Not the case any more, Litecoin price have been dropping but the difficulty still stuck at about 1000.
