Hi Shop-Sq,
A) I think merging the domains is almost definitely the right move, so long as you do it right (get the redirects nailed, don't have any performance issues, update the links correctly, etc).
B) I don't believe there's any penalty coming for shopping sites that also happen to host forum content or blog content. The only risk is if a lot of the site becomes (or is) cruft, meaning low-engagement/low-value content Google doesn't want in its index or searchers never click on/stay on.
C) We have not seen what your developers describe. Some forums haven't done well, others have done quite well (e.g. Moz's Q+A has benefited a lot over the last few years). I don't believe any hiccups you encounter will be because the types of content are unique, but rather because of technical issues, missteps, or content that doesn't help searchers and doesn't perform in Google (and all three should be avoidable).
D) Yes. We/I still recommend subfolders over subdomains. More strongly than ever actually. We've got some new evidence that Google judges content on a subfolder level, hence subdomains may not inherit all the rankings abilities of subfolders/other subdomains on the same domain.