Multiclassing into Warlock

[Chronos Flame]

I had a couple questions about multiclassing into warlock and just clarifications in general about it. As a level 5 paladin I made the decision to go into warlock for my 6th mostly for flavor. (Druidcraft, cool magically grown weapon, the ability to insult people so hard they take psychic damage). I was curious about the spellcasting. I know I can use the warlock slot for smites and all that, but I wanted to clarify some things about how it actually interacts with a caster class.

Warlock doesn't stack at all? So I get half level for paladin levels and 0 for warlock levels, right?

The warlock spell slots are at the highest level the warlock can cast from the warlock levels or the character in general? My reading would have me think that the slot is only 1st level until I take more warlock levels, which is fine, but I would almost assume the uproar of "lvl 2 warlock dip so good" when the game came out wouldn't be so common if that were the case.

[Mrglee]

Warlock indeed doesn't stack for spell levels, and yes, Warlock spell levels only go up when they invest in Warlock.
What makes Warlock so good as a two level dip is low level utility spells/invocations, patron benefit(Fiend being the strongest of the level 2 dips in terms of power, but telepathy and AoE charm/free is nice too), Eldtritch Blast(cantrips scale without class level investment, they just get better at character level benchmarks), and the agonizing blast invocation. This gives any class focused on charisma a fully functional ranged attack that hits four times for a 1d10+cha each, can even throw on hex to get another d6 on each hit out of that. Other classes get some extra benefit, like Sorcerer being able to use Warlock spells to recharge Sorcery points, Eldritch Knight being able to get a free bonus action attack after casting Eldritch Blast, but the core of Warlock is it just gives a lot in two levels, and it able to fulfill any lacking range option you could have.

[Corran]

Warlock doesn't stack at all? So I get half level for paladin levels and 0 for warlock levels, right?

Not exactly. You have spell slots as a paladin of a level equivalent to the paladin levels you have (so you dont take 1/2 of the paladin levels to determine spell slots, in fact you do not use the spellcasting table given in the multiclass section at all). And you also have aditional spell slots as a warlock of a level equivalent to the warlock levels you have. So treat your spell slots as the sum of the spell slots of two different characters, one of which is a paladin of a level equivalent to your paladin levels, and the other is a warlock of a level equivalent to your warlock levels.

You also prepare spells seperately for each one of these two classes, as if you were again two different characters, as detailed above.