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I don't know what Nolooking is, though it seems to optimise opening batches of channels?

If I was opening a single channel and privacy conscience, I would prefer a private channel. That way, the channel is gossiped over the network.

This works if you only want to send and receive sats. i.e. no routing.

What about being a merchant. Does it work with private channels?

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Only if you have a single customer, the one that holds the other end of your channel. Otherwise your node must be public because your customers must find a route to it. But it can be behind Tor.

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Don't know, my guess is yes.

But if you are a merchant, you typical give up some privacy. So what is your priority, being a merchant or privacy.

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