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Hm, first one wouldn't quite work, I don't think. For you to discern any sort of detail, you would have to get close enough to actually SEE what's going on (through the use of this "super telescope"). By the way that light works, the closer you got, the more relative towards the specific inertial reference frame you would come, so if you actually had a vision which was able to see Earth as it is, the light you would be collecting through your eye (that's how you see things, is reflection) would register in that specific point on the time-space continuum. Therefore, you could not see back in time, and look at all the little details of what happened. But it is true that the light you see from stars is millions of years old - but that's only relative to your location on Earth in accordance to the specific inertial reference frame as defined by your exact position along the space-time continuum. If a bigger fish would like to tell me I'm a dumbass, feel free to do so - I'd rather learn more about this more than anything else. 
Scientists do believe however, that a distant star in the Milky Way Galaxy went Supernova a few hunderd thousand years ago. So about any time between now and 2100, we could get a VERY bright show in the sky that could last a few weeks. They predict that it will be brighter than the moon at night. 
However, this sort of chaotic randomness creates its problems for us. Though we believe that there are not any stars close enough to Earth that are in danger of going Supernova (therefore destroying this planet), there is always the danger of two black holes merging. Because of the nature of these things, and the relatively low budget NASA gets (some people would rather spend money in Iraq ) We can't look at everything we would like to. This arises the possibility of two black holes merging, which, although it creates a wormhole (theoretically), it also emits what is called a Gamma Ray Burst. That would kill every living thing on Earth in under 12 seconds if it hit us at all.
Just goes to show - we're not shit. 
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There are more things in heaven and earth, Horatio,
Than are dreamt of in your philosophy.
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