Re: 1), you also have to place the cursor before you can grab it and move it. You used to be able to place it precisely in one step using a long press to get the the magnifying glass, but now that selects the word under your finger instead.

If there’s no cursor yet, you have to 1) tap somewhere to get a cursor to appear, 2) drag it where you want it.

Super annoying to change such a basic, useful functionality.