Yes. When you delete from the bin, all you are doing is removing the first part of the string, or path, to it. You don't have access to it any more but it is still there as "usable space" until the next time(s) you fire up the PC or do some defrags which will re-arrange your useable space. It stays on your HDD and is recoverable by recovery programs, but more you use your CP between Deletion and Recovery attempts, more chance there is of losing it forever. To answer your question - Yes.
Yes it stays on the Hard Drive and is recoverable until it is overwritten. It doesn't take up any space on your Hadrd Drive that you might want to use. But if yopu are getting rid of your hard drive/computer be carefull because what you have deled can be recovered. From your question I feel if you just want more space don't worry just delete what you don't want and you will have more useable space on your HD.