Yes — heading levels in the RTF convert to the matching number of `#` characters, and bulleted / numbered / nested lists convert to `-` and `1.` markers with correct indentation. The MD preserves the document outline so the structure is immediately readable as plain text.
The MD uses ATX-style `#` headings by default — the modern, widely-supported convention that works in every Markdown flavor and scales to all six heading levels. Setext (underlined) headings only support two levels, so ATX is the safer, more portable choice.
Yes — the output is GitHub-Flavored Markdown, so it renders correctly as a README, wiki page, issue, or PR description on GitHub and GitLab. Pipe tables, task lists, fenced code blocks, and `#` headings all display as intended once you paste or commit the MD.