To answer Question #1, you should be editing in whatever preset doesn’t give you the red render bar. So in your case, I would use the AVCHD 1080i25 (50i) setting. This will allow you to edit quickly and without having to render unnecessarily. Also, if you shot in progressive, this setting won’t “add” interlacing if your worried about that. Just make sure to set your output as progressive, 25fps.
As for the other two questions, will you be using Encore to author your bluray disc?