Yes, it will work.

If you bothered to read the "Key Features" information on the B&H Web site, you would have noticed that the F2DMM100 Only accepts 3" or 5" reels and has an output resolution of 960x720 at 30 frames per second. The F2DMMPRO accepts up to 9" reels and has Creates Full HD 1080p Video at 20 fps. I like the 1080p resolution and believe it is worth the $100 extra. I usually do smaller reels since long reels that have several movies spliced together tend to go out of frame at the splice. Using smaller reels or doing shorter sections of a large reel usually yields better results.

According to the manual, it scans frame by frame to create a digital mp4 file.

there are but you need a more expensive machine than this one that does just vision. You can get silver surfaced telecine machines so you can transfer the film and sound in one go in real time. You are recording the vision on the silver surfaced mirror

You would have to speed it up slightly in post, using a video editing software

Yes Blackmagic Design Cintel Scanner C-Drive HDR B&H # BLCSCN4KG2CP and Blackmagic Design 16mm HDR Film Gate for Cintel Scanner BH #BLCS16MMGHD

Yes, it was new and unopened.

While the manufacturer does state that they recommend to clean your film with a lint-free cloth and/or anti-static film cleaner, they do not mention using the Wolverine Data Film2Digital MovieMaker-PRO to transfer film from one reel to another by hand. However, page 4 of the instruction manual does state that you may use the Wolverine Data Film2Digital MovieMaker-PRO to rewind the film back and forth to regain proper winding tightness before converting your film.