1. No - there is no extra depth information provided by the sidescan channels, so this won't help with bathymetric mapping. It can be very useful, though, for seeing what is on the bottom around you and for helping to highlight areas that should be mapped more thoroughly.
2. To cover all of the bottom, you need to run very a very tight grid. If you consider that a standard transducer with a 20 degree cone angle will cover an area of about 1/3 your depth, then you would need to run tracks that were that distance apart. Obviously in very shallow water, this could be very close indeed and is not always going to be practical. What you need to understand about interpolated depths between measured points is that they are just "guesses". Depths at a certain position are just estimated based on the known points that surround it, and could vary wildly from reality. This is why any map produced by ReefMaster is not suitable for use when navigating, which is something that we always stress.