That is correct, you can route a /27 to each of your AP sites. You don't mention how you are giving the IP's to your end customer - Statically assigned, DHCP or PPPoE. You can create a bridge interface called AP'S and add the interfaces that your AP's are connected to to this bridge. Add your IP to the bridge interface an viola
I assume you mean link state being the physical interface state.
Re-convergence is slower without the physical interface being down as it must wait until the dead timer is exhausted. Most high end radio's will cause the ethernet port to shut off if the rf link is down. That will cause re-convergence to begin immediately.--
I survived Hale-Bopp!