Yep.
Yes. The direction of your OTA antenna matters. Most of the installations have the OTA mounted on a pole, exactly like the dish.
Be advised. The ChannelMaster Stealth sucks. When you replace it (I recommend the Radio Shack RS 15-2160) then the aim is not AS critical, but it's important.
Some installers go for pure height in the OTA installation, and some try and catch a "bounce" of the signal with the antenna mounted a little lower on your roof. I think that's a silly concept, but to my installer's credit, it did work okay (once I got rid of the Stealth.)