Hmm, artistic wire will likely get out of the circle shape pretty quickly, that's probably why memory wire is preferred for bracelets like this. This doesn't mean you can't try, though! :)
That depends on the wrist size - I just put the wire on my wrist and cut it where the end of the wire meets the rest, minus a bit so that the end beads almost touch when I put it on. :) For a roughly average size, I'd say cut with approx. 3/4" to 1" overlap.