Checked CM10 at my neighbours' place. If you've placed it on your clipboard, Edit->Paste->PGN. Useful for looking through movelists posting on forums and such.
CTRL+L as mentioned earlier works too, as does File->Load which is the same thing.

Well, hmm, I think I would call recent CM versions more userfriendly than most CB products I know (including Fritz). You can set the timers however you want, I don't think Fritz has as many options as CM has in that respect. With CM10 (and above I think) you can set time by 'Moves per minute', 'Seconds per move', 'Minutes per game', 'Hourglass', 'Fischer style' (minutes + seconds increment) and 'Infinite'.
CM will use its time when it needs to, it has an opening book and endgame database, which means it'll blurt out the moves instantly in the beginning and the end (Fritz does so too).
As usual in CM, there are a bunch of personalities to choose from, who will play differently. Plenty of options to change board and pieces, wallpaper and overall look.

To be fair, I've never used Fritz much. A lot of core features are also in Fritz, though in a more professional way, less optically pleasing. In my experience the interface is a little less intuitive. It's focused more towards professional players than us amateurs if you ask me.



On PGN files, straight from wiki:
"Portable Game Notation (PGN) is computer-processible format for recording chess games (both the moves and related data); many chess programs recognize this extremely popular format due to its accessibility by ordinary ASCII editors, including word processors capable of importing and exporting plain ASCII."
It's the standard way to save chess games these days. All chess software can use it really.

Really though, you can't go wrong with CM, Waitzkin's tutorials alone are worth it.