Now that I've got the complete cost of the booking back in my account where it belongs

(this was done within 4 days of asking - 10 days later)
The booking really does have to be like for like.
If EasyJetHotel rate offers breakfast - the other must too. So for number 1 - no it wouldn't quailfy.
2. This was never brought up with my booking. The Expedia rate seemed non-cancellable. The EasyJetHotel rate could be cancelled - but invoked a £15 fee for doing so. They never quibbled over this.
As long as your own booking on EJHotels can be cancelled in a similar manner - I'd say go for it. But get a written confirmation that they will honour the guarantee before you stay.
And were given a superior corner room with fantastic views and treated ourselves to a fantastic supper at the Ritz-Carlton on our last night. Boy would we be struggling now if we hadn't got the refund (paid for our YYZ-MXP Biz trip ^ )