PW2 Best way to achieve KPVBooklet + KOReader setup

My goal is this: JB my KINDLE (9071, PW2, 5.4.3.2), then use KPVBooklet (I like its look, and integration), and view my files (epub preferably), via KOReader. Optionally, I may want to disable silent updates.

I am thinking this as better step-by-step approach:

1. JB my PW2 with lates JailBreak, also install usb-net in this step.
2. Upgrade to 5.4.5.1 firmware (some say 5.4.3.2 is "broken", why is it broken?, is 5.4.5.1 firmware "best" in sense of compatibility with KUAL, KPVBooklet and KOReader)?
3. Install KUAL.
4. Install KPVBooklet. install KOReader.

Is this scheme okay?

More questions:

When I install KPVBooklet, does it replace the original "home screen" or it appears in original home screen and I have to launch it manually?

If I install KPVBooklet/KOReader and then KUAL, are they co-installable? Will KUAL appear as "book" in KPVBooklet?

Which extensions registers KOReader as default viewer for? Just ePub? And does that "registration" of KOreader for certain formats work for original "home screen" too?

I found "python-2.7" package in niluje nice thread. What is it good for? Just for fun or any package requires it?

PS: Many questions, I know, some are already partially answered, but I certainly feel it is important to have them answered in single thread.