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I'm no expert, but it looks like a round-cut bezel set diamond. It's also extremely gorgeous. From one engaged woman to another, congrats!

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Any jeweler can answer all those questions. Just tell them you're not asking the value of the ring.

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Yes they lead to marriage which leads to happiness which turns to hate which leads to divorce...<br />
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Sometimes

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Three C's: Cut, Carats, & Clarity. Obviously round cut, Clarity cannot be determined from a photo. VS1 and VS2 are not as bad as you might imagine. They indicate minor inclusions visible under 10X magnification and are less expensive than clearer stones. The final is Carats - unless you have tiny hands, that looks like at least a full carat - a very respectable size, unless your a Diva and want something costing well into 5 figures.

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Rule of thumb is the ring should cost 3 or 4 times what he makes in a month. Ive heard 3 times and Ive heard 4 times.

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a reputable appraiser can give you all that information and more, but he would need to examine the ring, not a picture, to do any more than put names to the cut and the setting.

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http://www.bluenile.com/signature-ideal-round-diamonds<br />
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It's round. That link tells more about round cuts.<br />
The setting is a bezel setting.

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