Yep.
Yep.
And, yep! :)

Ugh, my aching ETH!
I think you're right. It's causing distraction and a lot of folks are going to lose bucks on it. Look at the volume and consider the fact that only 104 ZEC are mined in the first 24 hours. That's just nuts. The same coins are being sold multiple times in a matter of hours. Here's the allocation for the first ten days.