If you look at the specs for gas/LP generators you will frequently see the difference in ratings from the two fuels, so I believe that one too.
The 10% LP dissapearance is news to me - can't confirm or deny. But if you are heating with LP, I think it doesn't matter.
I've got one of the RV Onan 4KW units running on LP just like Bird's old one. Mine happens to be built into a shed as aux power for an off-grid solar house, but it's the unit typically used in RVs. Onan offers two types of LP systems, one vapor and one liguid. It is true that you can't draw vaporized LP out of a tank faster than the LP actually vaporizes, and that vaporization rate is controlled by LP surface area and I think temp. A grill tank can only vaporize so fast 'cause the surface area of the liquid LP in the tank is limited compared to a larger tank. As a result, to "power" big devices like generators and furnaces, you need a bigger tank with a larger LP surface area to produce sufficient vapor at a steady rate. My Onan uses the Vapor system but I've got a 1000gal underground tank so vaporization rate is not a big deal.
If you want to pull LP out faster than the vaporization rate you need a more complicated system that draws off liquid LP, then does a forced vaporization prior to use. The Onan liquid vapor fuel system actually routes the liquid fuel line around the exhaust manifold to heat/vaporize it. I haven't seen one first hand, but my manuals spell it all out.
What can you power with what size tank? I have no idea, but I do know that I can run my generator, furnace, HW heater, stove, drier, etc, etc all at once using the 1000 gal tank. If you are heating with propane, I expect you can power a generator with no problem, but to confirm just ask your LP supplier. For reference, the Onan at full load (4KW) uses .8 gal/hr or 4lbs/hr of LP. That's about the same as a furnace.
The Onan I've got actually does not derate for LP, but I think that's because it's got a way-oversized engine for a 4KW generator (10-12HP I believe) so it can put out the full 4KW either way.
Personally I really like the LP approach. Endless supply of fuel, easy starting, especially in cold weather, and the fuel never gets stale because you are always using it for other things. The engine also runs cleaner and smells much less. I've got over 900 hours on mine and its been completely trouble free.