Hi and welcome to the world of chins.Yes it's very exciting!
No they don't drink a lot of water, well most don't I do have a couple of exceptions. There always are exceptions.
A 12 inch wheel won't be much good to most adult chins.
And the noise is a problem with most of them, you can take it out when you go to bed if it's bothersome.
The exercise balls can cause them to over heat, and they end up with droppings rolling with them. Some will even pee in them, not nice on a chinchilla.
I had one that loved his, but most would much rather a free run, and once they've had that don't like getting in the ball.I class it as a waist of money, but if someone gives you one,or has one you can borrow try it.
Go for clear plastic, I can't imagine looking through a dark color and trying to find your way around.But most soon learn you can't walk through furniture, doors, or get under some of the same in it.
Take him in the bathroon or small area that you can bar off and sit on the floor with him. That's the most fun I have with my chins.