John,
1. No, no special bag. It is made of a thick plastic (welded with wife's iron... a special "welding" adhesive for plastics could be also used), with two closures (you can see them in the photo). Absolutely dust and water proof. For example the plastic foil used for garden ponds is suitable. A nice box would probably be more elegant (just for the feeling it is tidy and nice also under the spare wheel

. Still looking for one. The box could be mounted to the spare wheel base, so no sorrows regarding failing rubbers.
2. I agree, I had these doubts also. However, those rubber bands I used are tested - I have been using them for 20 years on a different car,
also exposed on the chassis, they are like new, no traces of wear. Hence, I used them. With new one of unknown quality, I probably would seek another solution (or to use two of them, the likelihood they will fail at the same time isn't that big one. Maybe I will replace them, but still didn't find the right solution.
3. I have 2-eared spinners, so no need of the knock-off spanner.