1. Yes it will run vmotion. after configuring evc.
2. evc is meant for mix and match the different family of cpu and Hardware vendor. VMware KB: Enhanced vMotion Compatibility (EVC) processor support
VMware KB: Enhanced vMotion Compatibility (EVC) processor support >> Check evc compatibility
An often forgotten VMware benefit – Pick and Mix | VMware TAM Blog - VMware Blogs
vmotion will run .but i believe evc leve 0 will work then.