I'm confused. There are four "first four" games. Two of them are between the "last four in" and two of them are between 16-seeds. UK could play the winner of one of the games deciding 16-seeds.
No, not usually although your logic is sound. The new first round is for autobid winners who are only there for an autobid conf. championship game. If duke was a last 4 in, they would be a 2 seed playing in Greenborough.