I will answer in the reverse order you asked..
I humbly believe it's most definitely a software glitch somewhere. Your phone is indicating that the USB is connected, the computer recognizes it, just not appropriately. Honestly, I believe your problem is with Windows/PC, not your Fascinate. My personal opinion if it was my phone..
If I had exhausted all options on exploring the PC glitch, including,
1. Tried connecting on at least two different computers
2. Tried connecting on at least two different versions of Windows (not Vista)
3. Uninstalled drivers completely then tried re-connecting
, I would then try working with the Fascinate to change out ROMS.
Which leads us too..
For backup..there are a lot of good tools.. here is a thread I wrote..It says if you aren't rooted this isn't for you, but there is a lot of applicable info on backing up.
http://forums.androidcentral.com/verizon-fascinate-rooting-roms-hacks/85675-how-preparing-yourself-wipe-data-factory-reset-clockwork-recovery.html
Titanium Backup is a great tool, and I would download the free version. I would also utilize appbrain to sync your apps.
For Roms, like I said, I flashed ED01 via ODIN, then OTA'd to ED05. It took about 30 minutes to auto download and install all the new roms over the air. If you stay stock, there are options to remove the bloatware aside from having root access. You can use an app freezer to freeze an app, which basically disables it, but doesn't remove it from the phone. Using a custom launcher, Launcher Pro in specific, will allow you to remove the apps you don't want from your app drawer. You'll forget they are even on your phone.
https://market.android.com/search?q=App+Freezer&so=1&c=apps
If you still want to ROOT, which I did, we can cross that bridge at a different point. The focus now is getting your USB working correctly. Like I said, I believe this is a computer problem, and doing all this may be redundant, which is why I want to make sure we have exhausted the computer options before modifying your Fascinate.