1. Any program that consumes some amount of stack, when coverted to CPS and
run does not consume any stack space at all because all function calls inside
the program are coverted to tail calls, passing through a continuation which is
the work left to be done.

No, not every program should be coverted in CPS because even though we do not
use the runtime stack space, a contination essentially creates its own run-time
stack of functions left to do (i.e. the continuation may grow larger and larger)
so it may not necessarily be as efficient as without continuations.