(Abridged) The c2d Spitzer Legacy project obtained images and photometry with both IRAC and MIPS instruments for five large, nearby molecular clouds. This paper combines information drawn from studies of individual clouds into a combined and updated statistical analysis of star formation rates and efficiencies, numbers and lifetimes for SED classes, and clustering properties. Current star formation efficiencies range from 3% to 6%. Taken together, the five clouds are producing about 260 solar masses of stars per Myr. The star formation surface density is more than an order of magnitude larger than would be predicted from the Kennicutt relation used in extragalactic studies. Measured against the dense gas probed by the maps of dust continuum emission, the efficiencies are much higher, and the current stock of dense cores would be exhausted in 1.8 Myr on average. The derived lifetime for the Class I phase is 0.44 to 0.54 Myr, considerably longer than some estimates. Similarly, the lifetime for the Class 0 SED class, 0.10 to 0.16 Myr, is longer than early estimates. The great majority (90%) of young stars lie within loose clusters with at least 35 members and a stellar density of 1 solar mass per cubic pc. Accretion at the sound speed from an isothermal sphere over the lifetime derived for the Class I phase could build a star of about 0.25 solar masses, given an efficiency of 0.3. Our data confirm and aggravate the luminosity problem for protostars. Our results strongly suggest that accretion is time variable, with prolonged periods of very low accretion. Based on a very simple model and this sample of sources, half the mass of a star would be accreted during only 7% of the Class I lifetime, as represented by the eight most luminous objects.
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