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Satin is lower gloss than semi-gloss paint. Paint finishes in order of decreasing gloss are: * Gloss * Semi-gloss * Satin/Low sheen * Flat Some manufacturers call Satin/Low sheen finish Eggshell, and others regard this as a finish between Satin/Low sheen and Flat paint. The higher the gloss finish the easier it is to clean, the higher its durabillity and the more it shows surface imperfections.
No, often high gloss paint is oil based.
Yes, you can, but what a waste of money.
Yes, quite slippery. Never use a High Gloss finish on a walking surface that may get wet! It is better to use a Paint made for this purpose, that has a 'Grit' mixed in with it. This gives the surface a 'BITE' into the soles of shoes or whatever comes in contact with it.
It would be hard to measure the difference, but Gloss would be a smoother finish so it would have slightly less drag.