I spoke with the regional Nikon sales rep yesterday and posed the same questions to her. While she has not dealt specifically with these issues she is fairly certain that:
Only LV shuts off and other camera functions are still usable.
Recycle time is probably governed by ambient temperature.
So it seems the best practice is to avoid extended periods of having LV engaged (shut it off between shots) and carry lots of spare batteries. I hope to test some of this in the next week or two....more to come.