Does the folding ring stud turnlock “snap” into place at the 0° and 90° position?

The folding ring does not snap into place at the 0° and 90°, but it does not wobble around freely.

Be aware that the folding ring handle has not a guaranteed frictioning in both directions. It is made so it frictions, so that the bent ring will stay on it’s place, however this is not a controlled value

Usually one folding direction always frictions, so when installing, take this into account, and install the best frictioning side.

Yes, this stud is smaller than the folding bail and somewhat fit the overall aesthetics of the product.