Making contextual node paths and reference lists First off, I am about to set up a site presenting a catalog of products. Since it's quite possible that at some point we'd open a store, I decided to use Commerce Product Display right from the start to present the products, assuming that it will be much easier to migrate to a real shop when we're ready. (Is that assumption correct?)

Now, each product will be tagged using two independent taxonomies (ie. each Display Product will have 2 taxonomy fields). That's because each product has two contexts possible: how it's built and how it can be used. The context will depend on the path user takes at the front page or the link they paste into the browser.

The issue I'm facing is that for each product I want to generate a list of related products, depending on the context.

Two questions now:
1. Is it possible to display a given Product Display page with different contextual path/breadcrumbs?
2. In a Product Display page, what module would you use to present a list of related products: Node Reference or Views Field?

Whatever you may have experience in setting up similar sites, I would be more than curious to hear from you, to learn about the precautions and caveats.
You need the Views Module.  I have both of the other modules enabled, so I am not certain exactly what functionality they contain applies.  The module Views Field View allows the user to contain a view in a field of another view.  I do not think that is necessary for what you want to do.  If you are not familiar with views I recommend watching the "Taming the Beast" video series at Nodeone.se. It will give you a good idea on how you will want to proceed.