It means the package is on it's way in the possession of whoever is going to deliver it. Further tracking checks will let you know where it currently is. The USPS advises when it's "OUT FOR DELIVERY".
In transit usually means in long distance travel, but apparently was first handed off to a different delivery service. This could for example mean that a Chinese postal system package has been turned over to UPS China for the remainder of it's trip.
I have seen terms like "out for delivery" "at local distribution center" suggesting you may get it that day.
No. It means it is somewhere in the world on its way to you. Possibly via several deopts and other vehicles depending on wher it is coming from and going to.
yep
