For example, Chief of the Foundry has an ability that says:
Other artifact creatures you control get +1/+1.
If I were to cast a 1/1 Artifact Creature it would enter the battlefield as a 2/2 due to the Chief of the Foundry's continuous effect.
Am I correct that continuous effects do not normally apply to cards in your hand?
Ex: I believe that in my hand that same Artifact Creature would be considered to be a 1/1.
What would its power and toughness be on the stack?
Ex: In response my opponent casts an instant that says:
Counter target creature spell with power 1 or less.
Would the Artifact Creature be a legal target for that counter spell?
Would the Artifact Creature card be affected in other zones? (Graveyard, Library, Exile, etc.)