Multiple investigations in the past have recovered data from FDR and/or CVR after an extensive high-temperature fire. I do not think that FAA will give that requirement up.
Yes. As I said. The existing system can remain in place, with all of its existing high-temperature-tolerant components.
In addition to not giving up that requirement, we could also add a longer, not-heat-tolerant storage. If it gets destroyed in a fire, see the above paragraph. If there is an incident where the data is of interest and the aircraft is not destroyed in a fire, then this will maintain the data long after the above system has deleted it.
No one has advocated giving up the high temperate storage.