Yes, that is correct. When setting up the vault, plan it "all the way to the end" like next 100+ years. With exponential backoff on the relative timelock values, the total number of pre-signed transactions isn't really that high. With a few thousand pre-signed transactions (more than enough), you can have high resolution timelocks well into the future.
Does revaulting vault up with the same keys, or new ones?
Are they new derivation paths on the same key?
Honestly, no idea. The answer to that might depend on each individual vault user. If the user doesn't want to deal with the expense of managing a bunch of unique keys and other data, then it might make more sense to use the same values and have a small blob that has to be stored for a long time, rather than many different blobs stored in different places to deal with.