For Live Mixing, we suggest using the StudioLive for that purpose and then when you go into the Studio, you can then use the 1602 as your Audio Interface, however for the DAW control aspect, that's where you'll need to use the FaderPort 8 as the faders on the 1602 do not function as a DAW controller.
You can use a FireWire 800 connection with the FireWire 400 by using a bi-lingual 1394 cable which has FW800 on one end and FW400 on the other which will work fine.