That’s a very good idea, I made that the change just now. Unfortunately it is technically a copy and therefore a translation change for all languages
create_account:
disclaimer: "By registering, you agree to the <a href='{{privacy_link}}' target='blank'>privacy policy</a> and <a href='{{tos_link}}' target='blank'>terms of service</a>."
As others pointed out, #3 is absolutely required because email clients and “helpful scanners” will visit every link they see in email.
I believe @awesomerobot has addressed #1 in the past, it’s kind of OS specific, some operating systems suppress scroll bars heavily these days.