http://www.unicode.org/reports/tr38/ does a good summary of the
possibilities.
Which and where?
Trying to "fold" from one locale to another, which is what folding
from traditional to simplified would be is not a good idea, best
practice is not bear in mind the locale being used, and do information
retrieval on a locale by locale basis.
What do you mean?
Put simply: Either you don't let someone search a TW database with
simplified characters or you convert either the search terms or the
searched documents internally for the duration of your search – or some
combination of these options. It is not at all obvious to me what the
fastest way in a big data context is. There's gotta be research about this.
Stephan