These two ICs are not equivalent in functionallity, although they serve a similar purpose.
PCA9515A is a repeater, as you would imagine a repeater to work. Signal input on one pin, signal output on another pin. With the bidirectional I2C that becomes a little bit more complicated, as the IC has to make sure to not go into lockup, but it is a repeater nevertheless.
You use it to to split a large I2C bus into two (preferably similar sized) chunks, each with about half the overall bus capacitance.
The LTC4311 on the other hand is used as a supplement to the pull up resistors. When the chip detects a rising edge, it supplies additional current to the bus capacitance, to increase the slew rate and charge up the bus faster. This enables to use of a larger bus (meaning larger bus capacitance, due to more connectes devices and / or longer traces).
To directly answer your questions:
- I guess yes, both act to accelerate rise time with large buses.
- The LTC4311 seems a more flexible solution to me. The PCA9515A comes with limitations, e.g. it can't support clock stretching by the slaves. The PCA9515A seems to me to be a good solution only when you have a situation with something like two seperate PCBs with an overall capacitance > 400 pF. By placing the repeater in the middle you basically have two smaller buses.
- No, the buffer should not be connected close to the master, but pretty much in the physical middle of the bus. You want to devide bus capacitance in two similar chunks.
- As already mentioned in the answer to question 3, don't place the buffer near the end of the cable, but in the middle. You actually can't use two buffers in one bus! The datasheet mentions, that due to slight variants in input and output levels (necessary to avoid lockup) only one repeater per bus can be used.