Yes, field of view will be reduced, that's what magnification is all about.
Most people have trouble stabilizing for long periods of time with higher power. The minor wavering around leads to viewing fatigue.
If you wear glasses, or will be wearing sunglasses, make sure you have extended eye relief (~12m) available. Usually, if you're not wearing glasses, you have the eyecups extended, if you are wearing glasses, then fold the cups down.
The brightness is a function of the objective diameter (the "50" = 50 millimeters) and magnification, then the quality of optics (composition, coatings, etc). More magnification with the same objective diameter will be a dimmer image (i.e., 16X50 will generally be dimmer than 12X50 from the same manufacturer).
Binoculars that look like straight tubes (or slightly tapered) use a roof prism, which tends to be brighter than the traditional porro prism-style binoculars of the same objective and magnification.
I think the Zeiss site has (had) some explanation of some of the important things to look for in a binocular.
I've got a couple pair of Zeiss. I loaned my 10X25b mini to a cop friend, they were brighter than the 10X50 Bushnell he was trying to use (for survellience). He could still read plates at night from some distance with the Zeiss. I also have some 10X50 and 8X40 Zeiss. They're amazing.
I worked for Zeiss for a while, so a got a discount .... but even without, I'd have bought 'em.
Good Luck
Scott