Check the address for CIS on the receipt and that way you can check the processing times for the service center in question.

It seems to me that CIS would not approve you for having simultaneous, different immigration statuses.

You need to be in the U.S. to file an application for adjustment of status.

There is no set amount of time. Perhaps 30 to 60 days.

Yes, you can file for a change of status while your application for extension is pending.

No, USCIS will not be confused. If you can adjust your status it makes no sense to waste time and money on extending the B2 or changing to H1b.

Statistically you have about a one in a thousand chance of being deported.

You have to wait for five years from the date you were approved.

Yes, you can find a substitute sponsor even if the original sponsor is no longer in business as long as you are not out of status.

File an application for a replacement card with the corrected information. When you get the receipt you can do an "infopass" to get a passport...