maximum merit points and capacity points

I read that limit points are lost if you have earned the maximum merit point and continue to gain what would be limit points. Is this still true now that there are job points? In other words, do limit points roll over to capacity points?

I know that I am currently earning both limit points and capacity points.

Also, increasing maximum merit points only increases how many you can accumulate before spending them, right? Is there any other result to increasing maximum merit points?

For the first question, no. Any limit points gained at 9999/10000 (at however many merits you cap at) is lost.

For the second question, that's about it, though it has its benefits, such as more runs of a battlefield in a row before having to go re-merit, or just points to spend on the Reisenjima goblin for those not-so-valuable shiny things.