Is the Acme "Example T-Shirt" pre-shrunk?

Yes, the Acme "Example T-Shirt" is pre-shrunk, so you don't have to worry about it shrinking after washing. This t-shirt is made for you, and it is a used item which makes it a great deal.

Since this t-shirt is 'used,' what kind of condition is it in?

The condition is 'used', and the listing offers a detailed description of the product including the condition. "Used" can mean many things. The listing should explain the specific condition of this shirt in detail. Please review the description for details, including the fabric, any imperfections, and any wear and tear. If you have specific questions, please contact customer service.