How likely would it be to have a 3rd DUI reduced to a misdemeanor?

Plea-offers or reduced charges depend on the alleged facts of the case, the prosecutor, court, and, in certain situations, the skill of defense counsel. If the prosecutor does not have a very strong case, the odds would be better of a reduced charge. Prosecutors never are required to make a plea-offer. However, if there are mitigating factors involved or if there are potential issues with a prosecutor's case, a reduced charge may be a more appropriate solution. If you need specific legal advice for your particular circumstances, I encourage you to privately consult with a lawyer. If you are charged with an offense and cannot afford to pay for your own defense, the court may appoint you an attorney payable at the public's expense. You have a right to counsel.

Usually most prosecutors will not lower a felony DUI to a misdemeanor unless there are evidentiary or legal problems with the case or unless you are eligible for sobriety court. DUIs are very political for prosecutors and they are not going to continually cut you a break. That is why you need to invest in an experienced OWI attorney more than ever because the stakes are so high. A good DUI lawyer will thoroughly evaluate every area of your case for any issues that could be used to get the case dismissed or as leverage to get a better plea deal.

Unfortunately, it is rather unlikely that a third DUI would be reduced to the misdemeanor. The prior DUI's, which cannot be expunged, will be taken into consideration. Some circumstances may warrant a lessor charge and it is likely worth your while to consult with an experienced criminal defense attorney in your area to learn your options.

Yes it does, or at least may matter. Engage an attorney NOW.

Depends on many factors.