If the product is new the most important thing is gaining market exposure, and I would suggest the longer your auction runs the better.
You can of course use a buy it now option if you are worried that people won't wait till your auctions end, but if the product is unique then I can't see waiting be an issue for buyers.
As far as finishing times, my suggestion is picking the most likely time that the whole family is at home together, and market research points to this being Sunday afternoon/evening, so I would suggest a finishing time of between 5pm and 7.30pm.
I think it's smart to finish before television prime time starts in case your potential buyers get to comfortable in front of the box and forget your auctions closing time.
Listing options, I would finish them all close together, but not the same time. Space them 5 minutes apart to give an individual the opportunity to bid on more than one if they so wish, it can only increase your chances off a sale.