1.While the power cord is plugged in, is it better to remove the battery to extend it's life?
Yes, remove the battery...if you are going to be having it plugged in very long periods of time. OVER charging a battery actually destroys the battery. Just remember, that if you take out the battery...save your work and anything important...cause if you remove the cord...its turning off. But to answer your question, i would recommend removing your battery if you'll be having it plugged in for say 5 hours or + at a time.
Desktop - DualBoot: Fedora 15/Windows 7 64bit
Netbook - Windows 7 Professional
League of Legends and Gaming Community