1) 'beat' means how many times data are transferred.
Normal read/write is single beat transfer - considering 32-bit transfer size, 4 bytes are transferred.
If you have 4-beat burst transfers per 32-bit, 16 bytes are transferred.
2) It is not about buffer but burst transfers are faster because shortened overhead. Although SRAM controller contains late write buffer, this have 64-bit and burst transaction are probably not affected by this. There is no other buffer there. And late write buffer is present only in the SRAM slave port.
3) These are isolated single beat transfers. Re-ordering would not lead in any time saving. Another topic is read/write burst in case cache line filling of draining, which could work same way as burst on EBI (27.5.2.5 Burst Transfer) i.e. wrap bursts when firstly read address is read first, then the rest.
Note that burst accesses are affected by setup in Platform Configuration Module (PCM).