You can sleep in them during the nights, and when you wake up it's morning. It was made so you don't have to wait the whole night for the monsters to dissapear.
You can't. Currently, beds are unstackable.
They were first introduced in the 1.3 Beta Version of Minecraft.
1. Minecraft 1.2 does not exist... yet... the latest version is Minecraft 1.1 2. Yes there are beds in Minecraft, and there has been for quite a while. 3. There will most likely be beds in Minecraft 1.2 since they exist in 1.1
Nope.
minecraft alpha (ver.1.0) no beds no creepers no friendly animals nothing
you can make beds now in 0.4.0 update
You can use wool for making beds and paintings. I'm not sure about the painting but I know you can make a bed in Minecraft PE
Beds were not introduced into Minecraft until Beta 1.3, so no.
you can make beds and colored wool if you find other things
Beds are made in Minecraft by crafting the first row with wool, and the second row with wood.
The whole world is 256 blocks high. Level 0 is filled with bedrock. Sea level is 64. You can't build anything above level 255 (Except beds, water, and lava).
Becuse it's at the version 0.2.0 beds were added at 0.4.0 it will never be updated so there's your answer.