That's a great question. I ran a test by converting my own sample data. Tracking from v9 converts as "Local" Tracking in v10. Hint - If you place a colon in the name, those items will be converted into the same tracking "group" in v10. For example, if you were tracking marketing information, such as how someone heard about your center, you could have Referral: Yellow Pages, Referral: Friend, Referral: Coupon. You would end up with a local tracking group called "Referral" and within it would be the individual tracking items of Yellow Pages, Friend and Coupon.
The answer to part II of your question is yes, the User Limits
can be set to restrict access to global tracking, but allow access to local tracking.