Qn 1 Yes,
Qn 2, I think not, the vswr bridge just gives you the return loss or reflected signal, your analyser (the spec analyser) still can't tell you the vector of the return signal, I wouldn't worry. VNAs often don't have the sensitivity of SAs. They also cost an arm and a leg, you need a calibration kit also serious dough! But I still sort of want a VNA!