The second question, these two are not equivalent. /privacy will block everything that starts with /privacy , including something like /privacy_xyzzy . /privacy/ , on the other hand, will not block this.
The original robots.txt file did not support wildcards or wildcards. However, many robots do this. Google, Microsoft and Yahoo agreed on the standard several years ago. See http://googlewebmastercentral.blogspot.com/2008/06/improving-on-robots-exclusion-protocol.html for more details.
Most major robots that I know support the "standard."
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