Nice explanation.. I like showing the schematics for the circuit, can help people who don't understand very well the soldered components on the circuit and the way they are put together..
I guess that specific unit (and design) is only for receivers. I doubt the small capacitor and inductors would be compatible with a (say) 100W transceiver.
the inverted polarity of the AC (or in this case RF) "discharges" it slightly, imagine you have 5V DC and +/- 100mV AC, the capacitor first gets charged to 5V, but the AC keeps changing the voltage between 4.9 and 5.1 Volts
A bias t is only as good as the components used including the connectors. The cheaper the more loss involved especially with the higher frequencies.....
