You know the position of a visible creature. It really doesn't matter what sound it makes.
If a creature is invisible, you aren't evem aware it is there, unless you make a great spot check and it's within 30'.
If it makes a sound, you get a listen check. On success, you know of it's presence, but can't see or target it. If you beat it by 20, you pinpoint the location (meaning you can target the correct square on the grid with an attack, but the target still has total concealment and can't be targeted by a spell that targets a creature, with the exception of Effect: Ray).
This is a case where the Rules Compendium does not bring in a rule from an expansion book to the skill description, rather simply from the special abilities description for invisibility.
The PH2 Feat just makes this check better; the listener need only beat the DC by 10 to pinpoint the location, and, in addition adds +5 to these specific Listen checks (versus an invisible opponent). There is no case for where you need to pinpoint the sound of a visible opponent (since you already can see it...). This is a great feat for this specific purpose, increasing the odds by 75% to pinpoint an invisible opponent.
What does pinpoint mean? If you heard an invisible opponent, but you don't know where it is, you can make a melee or ranged attack against it, or attack using a spell that affects an area, but you have to guess the square the target actually occupies, and even if you guess correctly, the attack is against total concealment; 50% miss chance. If you succeed on the Listen check (by either +10 with the feat and a +5 modifier or by +20), you know the correct location (the square on the battle grid) but the opponent still benefits from total concealment and cannot be targeted by spells that target a creature. Note: The KES feat adds the benefit of direction on beating it by 5. That is markedly better than "somewhere" without the feat :)
This was my general understanding long before the Rules Compendium, but I do like that the RC made this explicit (hidden <==> invisible <==> total concealment).
If I am following your example, the DC to hear someone talking at 10' is 0+1, or 1. To pinpoint that person (if they were invisible) would be DC+20 or 21, or DC+10 with the feat or 11. A +10 modifier would negate the roll to hear, know direction or pinpoint.
Things you can do, by the book: Everything you listed except scribe a new spell.
Source: PHB pg. 114
That actually requires you to write down the spell, and has a material cost associated with it that is usually associated with special inks and gems. Yes, you can recall it from memory and write it into your book, upon which you would have it memorized for a month. However the spell itself may require a specific rune written in a specific ink. Knowing that, and having written it down that way are two different things. Obviously this applies to material component cost spells only.
Since the Wizard can already replace a destroyed spell book with the spells he has prepared for the day, it's reasonable to extrapolate that with photographic memory (as this feat entails) you could replace the entire book. After all, the spells don't disappear from your mind when you cast them, so this feat should serve as a good safeguard against losing your spellbook.
Of note: You're going to want to review your book monthly and update it with new spells in order to continuously preserve this.
Of secondary note: I would even allow a Wizard with this feat who passed a successful Arcana check to experiment with and replicate a spell cast by somebody he was watching. Personal DC levels would be, DC +5 per component needed (Verbal, Somatic and Material), and double the result if the Wizard isn't proficient in Arcana. But that's a house rule thing because this is a clever use of a versatile feat that effectively duplicates the spell book.
But bottom line is: Nothing under Wizard or the Spell Book sections in the PHB prevent you from recalling everything in your book from memory. The pertinent line is here:
Preparing a new list of wizard spells requires time spent studying your spellbook and memorizing the incantations and gestures you must
make to cast the spell: at least 1 minute per spell level for each spell on your list.
Since Keen Mind already ensures you have the spells memorized, there`s no reason you would need to open the book in order to review them.
Best Answer
Nope. The mechanical effects for each race, the racial traits, are laid out after the description of each race/subrace. The traits of High Elves are
none of these relating to the Keen Mind feat. It is a bit of descriptive text to match the lore with mechanics.