Hi Vishal,
I'll try to answer your questions as best I can.
1) It is definitely possible to preload data to the 32MB memory (per group) and start the acquisition after you have preloaded the memory. There are example programs on ni.com/support under Example Code for pattern generation and the 6534 that demonstrate which functions to use for this. Also, if your PC memory buffer is less than 32MB, it will automatically be loaded to the card. If you are in continuous mode however, you can choose to loop using the on-board memory or you can constantly be reading the PC memory buffer as you update it with your application environment.
2) Yes, your data will automatically be loaded into the card's onboard memory. It will however be transferred as quickly as possible to the DMA FIFO on the card and then transferred to the PC memory buffer through DMA. It is not going to wait until the whole onboard memory is filled before it transfers. It will transfer throughout the acquisition process.
3) Vishal, searching the example programs will give you many of the details of programming this type of application. I don't know you application software so I can't give you the exact functions but it is easiest to look at the examples on the net (or the shipping examples with your software). Now if you are acquiring 512 bytes of data, you will start to fill your onboard memory and at the same time, data will be sent to the DMA FIFO. When the FIFO is ready to send data to the PC memory buffer, it will (the exact algorithm is dependent on many things regarding how large the DMA packet is etc.).
4) If I understand you correctly, you want to know if you waste the other 6 bits if you only need to acquire on 10 lines. The answer to this is Yes. Although you are only acquiring 10 bits, it is acquired as a complete word (16bits) and packed and sent using DMA. You application software (NI-DAQ driver) will filter out the last 6 bits of non-data.
Hope that answers your questions. Once again, the example code on the NI site is a great place to start this type of project. Have a good day.
Ron