It replaces your flour pretty much. It also isn't the best tasting stuff. At least, not in any of the recipes I've tried. But then, I might not be using the right recipe. Good luck
I dont think you can. Ive never used the bake stuff, simply because it is too expensive. Anyway, if your baking something with it I would think the bake mix would be lighter than flour. But if your using it to coat something, then flour should be fine.
If you're not doing low carb, I wouldn't go out of my way to buy special mix like Atkins to cover chicken. Flour would (I think) work just as well. let us know how it turns out