1. I think you are right. For example, (I eat foods while watching the TV.) , (turtles hibernate during winter.).
2. ~() is used with pronoun, adjective, and verb. is used with adjective and verb but with pronoun is unnatural like . So they are interchangeable except pronoun.
3. verb + means progressive like I am reading the book() and means "in the act of" and "be engaged on" like I am in the act of reading the book(). They are same meaning, aren't they?