(Live only uses the VSTs when you are playing back their sound, so the CPU won't hit 240% when you hit stop!)
Once you have recorded a fresh arrangement, you simply need to refreeze the tracks.
Regarding importing frozen clips as audio, this is possible, but I don't expect to work out how, when or why I would do this until I have lived with Live 5 for longer. The great thing about Live imho is the fact that it can be used in so many different ways. I'm still discovering new strategies in Live 4!