In short, yes to all.
You'll lose a lot more velocity with a fast cartridge by docking the barrel back that much.
My Remington Model Seven 243 came with a 18.5" barrel from the factory in 1983. Just about bearable with hearing protection on. Shoots a treat, as most short barrels do.
No issue running a bigger cal mod but keep in mind you'll need to clear the stock if it's an over barrel mod.
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