Those questions mostly determine by the game itself. If your game is running at 1980x720, then you want large sprites. If your game is small res say 640,480 then you want smaller.
However you can always scale sprites down. So bigger sprites are better. Then use a progam say GIMP, photoshop, Paint.net to rescale the sprites yourself.
PNG is better most of the time. however if you can get source files to go along with them then that's even better. So if he uses Photoshop ask for the PSD files along with the PNG.
yuv makes a good point. Rendering is best with bit sizes as mentioned.
2048x2048 is the MAXIMUM size of most graphics card. Never have a sprite larger.