1. Yes, it is possible to blow the OTP e-fuses in the way you describe. Moreover, there is the Manufacturing Tool (MFGtool) software that simplifies this process during mass production (look at Tools -> Manufacturing Tools, all related documentation is included into the packages):
http://www.nxp.com/products/microcontrollers-and-processors/arm-processors/i.mx-applications-process...?
2. No, the boot configuration pins do not become useless for their regular use. This boot configuration resistors and DIP switches network is designed especially to provide the operation of these pins as boot configuration signals at power-on reset and regular use of these signals after power-on reset sequence completion. Actually, until the power-on reset sequence is complete, these pins behave as HiZ GPIO inputs, so, the external boot configuration network allows to provide a stable logic level, High (DIP switch is close) ot Low (DIP switch is open), during this period. After that, when power-on reset is complete, these signals can be used for their regular purposes on the processor side of the 4.7kOhm resistors.
Have a great day,
Artur
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