1. Yes you can create standalone exe's
IF they have the .NET framework installed. If you're running with Win9x clients I wouldn't suggest using .NET because MS is dropping support for Win9x.
2. Yes they are also distributable
3. VB/VB.NET also supports making a database connection to MS Access so no worries here you shouldn't have to do any migration at all
Something else you may consider, instead of using a full blown application, you may consider making a webpage (using ASP or ASP.NET) so you won't have to worry about distributing an application.
IIS comes with Windows 2000 server, so you won't have to pay for that either.
Good luck

Let us know if you have any more questions.