1. yes, a mag loaded into the rifle will not have the top round pressing against the feed lips, it will be pressing against the bottom of the BCG. In other words, the feed lips will be just as "unstressed" as if the cover was snapped in place.
2. "Out of interest, I have the PMAG 30 model (with window) and the cover doesn't snap onto the base." Yeah, mine either. This is normal.
3. I thought about it a little more after playing with a PMag equipped with the cover snapped onto the floorplate, and I've decided this is a nice feature. Not only does it keep track of the cap for you, it also allows you a bit more "purchase" if you pull on the mag and slip a bit (it may prevent you from completely slipping your hand off and bobbling the mag change), and it can also function as a bit of a pad or buffer if you drop the mag to the deck- the cap is taking the force of the impact, not the floorplate and mag body.
4. I have always used two elderly Thermolds as my mags for doing speed reload drills. I can dump them on the deck and not care. You know? Those stupid things just refuse to die. I can't tell you how many times they've bounced off of concrete. They still work.
Mike