The idea is that MM hunters hit harder than BM hunters, which is why you go AP over Agility in general. Wild Quiver will cause procs as it is considered a separate "hit" on the mob. Serpent Sting is useless for MD, only the first tick counts, I do not wait to blow Serpent Sting til Mirror procs, but I also have Loatheb's shadow (I will refresh Serpent Sting manually if Mirror procs early since the eternal refresh of Chimera will warrant it.) I blow Rapid Fire twice at the beginning if I know the fight is going to be a sort of single phase. But I will very definitely hold off on the Readiness if the fight is very short or the boss has a severe enrage timer and i know i won't be getting the chance to use it for a 2nd double pass.
1 point for focus generation should be good enough, especially as you get more and more crit. And as I just said actually, no, your pet's damage will only keep scaling that way if all your gains are AP based. Which is highly unlikely. Getting a new weapon that severely kicks A won't boost your pet's DPS at all unless it has a lot of AP somewhere.
Overall, BM is still the best pound for pound DPS spec, but MM is certainly fun and can do damage. I remain #1 DPS generally (we lack warlocks) and I'm MM, so I don't worry.