1. You will be able to ride in a city.
2. You will have a 20-30 min max on a chocobo
3. You will not be able to interact with npc's or bazaar's whist riding chocobos.

4. If SE is smart, when you mount a chocobo other players will not be able to interact with your bazaar to prevent afk choocoboers.

#1-3 95% chance
#4 50/50