I'm not exactly sure how to give you feedback because I don't know what kind of information you are looking for - the nuts and bolts of how it works, how demanding it is, how competitive it is, etc? Feel free to PM me if you'd like and I'll do what I can to answer your questions.
As for working full-time - I'm not going to say it can't be done. Yes, they absolutely discourage it and personally, I would also. However, I am sure that you will find people who have done it and who have still graduated. For me, I started the semester in transition between 2 jobs and for a couple of weeks I was working about 45 hours a week. It was absolutely horrible and there is no way I could have done it for a prolonged period of time. I basically worked all week and spent all weekend cramming all of my lectures (about 13-15 hours worth) and homework in - it wasn't an effective learning strategy for me. I am now at 1 job and working 24 hours a week, which is much more manageable.
I am married and have a child, so those obligations take my time also - if you are totally unencumbered and will only be working and going to school, you may be able to handle more.
Anyway, as I said, I'm happy to try and provide any other information I can if you have some specific questions.