Will the treatment effect my long term training goals; one day I wish to compete as a competitive bodybuilder/men's physique.
Will the treatment effect my strength in the long term and does it restrict movements such as deadlifts/squats?
7 cm will for sure affect your max strength (aesthetically idk what it will do to the muscles)as far as legs are concerned. Idk how much or in what ways but everybody is different and will depend on a lot of things. Unfortunately its a crappy vague answer but theres really not a lot of info post LL peak athetic performace differences. The general consensus is that with a successful moderate LL you will lose some athletic performance but can resume intensive sports, although you might not fair well in more competitive levels. Bodybuilding is different though because its more about aesthetic but i dont see why you can't compete.
If you want compete then just compete, even if you dont have the biggest quads. At 160 cm (my height too), i bet your not willing to give up the 7cm for the sake of competing in high end bodybuilding.
as far as body mechanics and excersises go, theres been a lot written about it but idk what is the consensus is, unfortunatley there isnt really any solid proof about a lot of things surrounding LL. It's mostly anecdotal stuff from diaries or a line cherry picked from some random ortho study.
Not dumb questions though for your first post. hopefully someone else could clarify things