I hesitate to answer these questions because I only know what I've been told and I'm not an officer. But this is what I think...

1. I believe they are live chips.
2. No, they will not be released on the table for face. The ONLY way I "believe" you will be able to get these chips is by ordering them. I think they are rounding the numbers up so I'm not sure what they are going to do with the extras. If 780 chips were ordered they will make 800.
3. Yes, I guess you could redeem as far as I know.

Don't blast me if I'm wrong. It's only what I think I know.

Scott