1. Yes
2. No
Yes, there's a split screen option for you to play offline with another player 1 on 1.
No, you can't go online with it.
That's why my room mate and I went out and snagged another PS3 and another copy of COD4 and another HDTV, so we could get in on team games and FFA's and such together lol. Though getting us both into a FFA is a bit of a trick that we've had to master.
But no, you can't go online with your buddy via split-screen.
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(Addicted to FFA)
* 25-1 in Creek, Free-For-All, with a Shotty. I don't care who you are, that's sick*
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