You are right, there is processing and all that extra stuff involved. Does anyone care, no. Such is the 21st century, if it doesn't affect me directly, I ignore it till it does.
Depends, cloth and material of that type, HELL NO. That stuff will absorb the odour from your basement (most basements that have moisture/leaks have odour) and could quite possibly lower the value of your item. Besides, why take a risk? Posters and laminate stuff like that, yeah why not.