(1) Not huge, but definitely measurable. Try some testing yourself, on your actual server, and see what you think of the results.
(2) Yes, but it's not a good idea--the only way the webserver has to know whether or not to run the file through the PHP parser is by extension. So if you want PHP code to run in html files, it will have to run every single html file through php. This isn't a huge overhead if there isn't in fact any php code in the file (see #1 above) but still you would probably like to avoid it. The only reason for doing this, rather than just naming php files .PHP and plain html files .HTML is if you have some external constraints on what certain pages are named (e.g. lots of external references to www.yoursite.com/specific_page.html rather than just to www.yoursite.com)