I served as an Elder for many years in a number of congregations so I can answer your questions (from my own experience anyway).
I accepted the position with a genuine desire to teach, help, and care for others. I've worked with many other humble elders who worked hard to do the same without any sense of entitlement, control or power. However I also worked with some others who did act as masters over others and enjoyed a sense of "control" over people. And some who were very bad apples. So I guess its a mixed bag, though in my experience there were more of the former than the latter.
Elders are certainly not above or immune to counsel, only they usually would receive counsel from fellow elders. Though I was certainly on occasions "counselled" (and accepted the counsel) by rank and file members (including sisters).
My relationships with friends did not on the whole change when I was appointed, though some who are not close friends certainly look at you or treat you a bit differently. Some show more respect, others just hate all elders (perhaps because of a bad experience with the bad eggs) so they treated you worse!
Elders report to each other and to the branch office (usually via the Circuit Overseer, but sometimes via direct letter). An anointed member, if they were a sister or a non-appointed brother, would still be subject tot he authority of the Elders.
The anointed ones are no longer members of the F&DS - this was a recent change of doctrine (in 2013 I think), only the GB are now the F&DS.
Elders are called "Brother" not "Elder so and so". Elder is not used as a title... well not in the sense of a descriptive title when referring to an individual. It IS a title describing the position.
Hope that helps?