The answer to both questions is yes. :)
1. The default is the XML site map provider, which is the only one we have. If you add your own provider, you will need to set it as the default by setting the defaultProvider attribute of the <siteMap> config section. You will, of course, also need to add the provider in the <providers> subsection of the section.
2. The XML sitemap provider internally keeps the same sitemap data, and you don't have to cache it. If you wrote your own provider, you'd need to do that yourself.
Shanku Niyogi
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