Yes. Almost all children get RSV infection at some time. It is typically most serious in very young infants, particularly those born prematurely. There is a medication (synagis (palivizumab)) that can be administered which lessens the severity of the infection, but there is very strict criteria on which babies can receive synagis (palivizumab). Check with your pediatrician to see if your baby qualifies.
Yes. Most if not all children will have had an RSV (respiratory syncytial virus) by the time they are 2 years old, but premature infants are more susceptible to having a more severe infection of "bronchiolitis" or pneumonia with wheezing and difficult breathing.