Short answer: yes. As @el.pescado mentions, browsers fall back to type=text when they don't understand the type. For more info about the other cool features you get from HTML5 forms, check out A Form of Madness, which is the forms chapter in Dive Into HTML5.
Yes, any unsupported type will revert to the 'type=text' format.
I found a good page which lists out all the existing input types. I tried looking at it from different browsers, a bit interesting. Don't know if it will help you or not.