1) No, but I never have the time to take that much rest, nor do the clients/athletes that I train
2) Probably not. I have had excellent results with clients using just two main exercises per day and putting all time/energy into just that
3) A pair of light wraps or good sleeves is fine. You can even use heavy/long wraps on some days, but I actually count that as a different exercise with a different PR. Wraps can add significant amounts of weight to the bar.