Reply to noob questions about timecode vinyl / hybrid setup.

hey guys, i'm entertaining the idea of getting 1 or maybe 2 turntables to hook up into s4 for use in traktor.

some things i can't figure out:
- are you limited to the +/- pitch range of your turntable? as in, on a 1200 mk2 you could only go +/- 8%? what happens if you go beyond that in the software?
- is the idea to reset the tone arm at the beginning of the timecode vinyl each time you cue up a new track? do you guys swap between relative/absolute mode thru your set?

any help appreciated, and my apologies if you get these q's all the time.