Even though Archar C7 V2 is very old version, but i don't recommend you upgrade to the newer version. Because you upgraded to the new version, you will lose a lot of security functions, such as...

Dear Kevin_Z, Depends on what you mentioned, i will wait for the update published in the future. On the other hands,I think it will be a long long story.

Depends on Official instruction, Archer C7 V5 only supports ntfs or fat32. that means the router doesn't support others. Even though the clients need, the technican wouldn't care about this issue.