Bear in mind that a Baffles Quickdraw, as of now, has the potential to shoot before anything in the game shoots. That means even if Whisper has Initiative, Quickdraw can drop his attack into an uncloaked Whisper. It's nasty. Just shooting so early (and often), even at the cost of a shield, will save your squad some damage.
That'll be fixed before the wave comes out in all likelihood.
I don't think so. If they wanted him to work like Dengar then they would have worded it like Dengar. Everything from his name, to the wording to his PS suggestions that this was how they intended him to work.
He'd be overpowered at a lower PS but as is he is a deadly threat to only a small group of ships that are notoriously difficult to counter and he makes them actually have to make hard choice with regard to who has the initiative.