Hair growth with minoxidil?

Topical minoxidil stimulates hair growth right?  I have a few questions regarding this drug.  First, does minoxidil induces growth of terminal hair? (instead of fine, poorly pigmented hairs like lanugos in babies).  Second, does application of minoxidil on other body parts with hair follicles (apart from the scalp) effects hair growth as well?  And third, what are the complications associated with this drug, both topically and systemically?  Thanks for your help.