Absolutely not. To glide well, you need big ol' wings. There's a concept called aspect-ratio, which is basically the relationship between the wingspan (left to right) and wing chord (front to back). High AR = better for gliding. Conversely, and in the case of the mini-PW, when you have virtually no wingspan, you aren't going to glide very far. We affectionatly referred to power loss as "brick mode".
Well ideally we wouldn't lose power to begin with but yes. The PW is essentially a powered wing to begin with, so losing power leaves you with just a wing. The real design benefit here is that with the powered wing, you can make the win extra thick. And I can tell you, that internal space is huge. Plenty of room for any kind of payload.