Does bluetooth implement the 802.11 wireless standard?
Bluetooth is IEEE 802.15.1.  Bluetooth does not implement 802.11.  However, it is not completely correct that Bluetooth "does nothing" with 802.11.  Bluetooth v3.0 + HS allows for the alternate MAC/PHY (AMP) feature.  The basic idea is that devices can use Bluetooth for coordination and small data transmissions, switching to 802.11 in a controlled way to transfer larger amounts of data faster.  Bluetooth itself does not implement or specify the 802.11 MAC/PHY, however.  It merely specifies a standard way to use 802.11 for bulk data transfers.

Finally, yes Bluetooth and WiFi (802.11) could interfere with one another as they both use the 2.4 GHz ISM band.  Bluetooth is a frequency-agile protocol with its frequency-hopping spread spectrum (FHSS) allowing transmitters and receivers to change frequencies during transmission and giving Bluetooth resilience against noise in the 2.4 GHz band.

Personally, when I have used Bluetooth for raw data transmission in a project, I found the transmission speed to be anything but constant.  I attributed this to the noisy RF environment in which it was used.