Regarding the recline - you couldn't be blamed for thinking the back row has limited recline, thankfully it does not and you guys should be fine to recline the full amount. In terms of noise, in theory it could be. It just depends how unlucky you are. The bassinets in the Economy cabin will be on the other side of the partition wall, so if those are occupied you may find yourself with a baby nearby, though if it's a daytime one at least you won't have any sleep interrupted! There is a curtain though that is drawn after takeoff so that will provide a bit of extra separation from the Economy cabin.
With meals - you are right that with the last row there is a higher choice of you missing your first choice of meal, so you may want to prepare a backup option. Please don't quote me on this - I am not 100% - I believe VS are beginning to trial pre-ordering of meals in the Premium cabin. I don't know if this is available on every route, or if it's available to everyone (e.g. it might be golds/elites only, I don't know), but there's a chance it won't be an issue. There will be no impact on drinks service - the card goes all the way through Premium and Economy, so don't worry about that :-)
Hope that helps.