Website Security

Hello! I am using a plugin by the name of ‘All In One WP Security’. I’ve done a number of things to secure and lock down my new site but had a couple questions.

1. The plugin suggests I modify the Root Directory Permissions and change it to 0755. I wanted to check to see if doing so would have any affect on my Responsive classifieds theme, as in prevent users from being able to upload photos, etc. Any suggestions on this?

2. Also, I was thinking about renaming the log-in page from /wp-login to something like /login. Does anyone know if this would break the functionality of the theme?

Thank you for your feedback