I prefer Project Zomboid's way of updating over Day Z Standalone's anyday. Even though it takes a lot longer for each update to come out, they are always extremely bug-free unlike Day Z Good job guys!
1. No, not at this point. 2. You can find axes in warehouses and garages, or you can craft one with stone, tree branch and a sheet, by scavenging the forest.
I don't really like that your char automaticly drinks if him/her is thirsty and has a water source. I would find it rather cool if you were able to toggle it on or off, so it would work just like the food.