Yes, but the speed comes from handling the graphics in fastmem and only blitting the result to chipmem. Otherwise you wouldn't benefit from a faster cpu, as the chipmem speed is the bottleneck
No, FBlit on an A3000/A1200/A4000 is faster than the blitter for some chipmem to chipmem copies. The blitter can't saturate the chipram bandwidth, while a really fast CPU can. I don't know what CPU it maxes out at. It also has the added benefit that icons etc can be stored in fast ram, which makes it even quicker. However things like full window dragging are sped up with FBlit and that doesn't touch fastram.