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It's true at some firms. Every place has a slightly different way of doing things. But it's true that making partner doesn't necessarily mean you've "made it" financially the way it perhaps once did.
Not really. It depends on lockstep v. EWYK and on the firm's profitability. There's a lot of variation in the V15.
Don't think the compensation is lower usually - it's just you have to start paying full price for a lot of stuff the firm subsidizes for Associates. (Like health insurance goes us by $1,000 or something). Plus there's the buy-in. I've definitely heard junior partners say their check went down.
Definitely true at my firm.