A:AnswerYes, it's compatible but you'll be hitting 100% on all cores before the GPU maxes out. I would recommend it, but then your CPU will be holding the GPU back and you might not get the frames you want at the quality you want.
A:AnswerAs long as you have a pcie x16 slot free and 2 slots available below it, yes it will. This card is quite thick, it is a 2.75 slot card. Paired with a 8700k (very nice cpu) you would be slightly cpu bound, but would utilize the entire gpu.