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I have found this forum post explaining an almost-identical circuit. I'm working through it trying to comprehend, and just not following along. I think I need to draw it out to see where all the relative voltages sit at each stage, as I think that's the key to understanding how this all works. (If someone wants to draw these pictures for me, I would love you long time!! I don't have the time right now to do it myself, unfortunately, but should be able to later on sometime; I'll post back here when I've finally unlocked the mysteries of this circuit, for any who are curious.)
However, I already understand enough (I think, anyway) to answer Bonus Round Question #1, namely: No, it is not. Ah well.