To be honest with you, I don't really know. As a user, I have just investigated as much as I can about the reporting process and have not read anything about screen captures. I know when I search for my home address, it places the pin about 2 houses down to the east. I live on an east-west street. I reported the wrong location, and it allows you to move the pin to the correct location. I'm not sure how that works, but I'm also not sure how long it will take to correct. Given just the number of complaints logged here on this one forum, I can just imagine the number of complaints/corrections they may have received. Given that, it will take people that work in the GIS portion of things a while to change latitude/longitude information. I believe they are working on it, and since the data is downloaded fresh when you search, at some time it will change.
I also understand your second post, and that is one reason why I would never go without a paper map, even though they can be out of date just as easy as the electronic data. In Google, the satelite view for my house was quite old, however when I looked at the satelite image in the Apple Maps, it was within the last two years. I could tell because of work I had done to the house. The Google shot was at least 4 years old.