Saddle Lipo Queries

[DaveG28]

Demon have one of theirs available, leads me to 2 queries:

1. It's 4200mah but says 1c is 5 amps. Does this mean it's actually 5000mah and a lower c rating than the 35 quoted?

2. I have a trakpower type balance cable and link wire (so linkwire goes between 2 cells with the balance lead connecting into this). Presumably I can balance any saddle lipo like this, and not have to use the 3 wire lead thing included?