If you get noticed, it certainly can. It adds legitimacy to your writing (as long as it's readable to begin with), and lets many readers feel they are getting a good deal when choosing Kindle over paperback. You can also use Match book as an incentive for buying the paperback.
Probably not, but it will help sales of your published print book. There are still some people who only buy printed books, and given that there's no cost involved to add a printed edition (presuming you can do the work yourself, obviously), that may be a few sales you wouldn't otherwise get. I average about one print sale for every ten Kindle sales, and one print sale for roughly every 25 KU full reads. Of course, as they used to say back in the Usenet days, YMMV.
Thanks for all the advice. I'm trying to publish thru' kip, but am having trouble. I'll look at createspace, and see how that looks.
My computer skills are minimum, I'm getting saw head banging it against the wall!
Every day, I promise myself that I won't fall for it, that I will be strong and dignified and resist temptation. But this is the fourth day, and I have weakened. So I've got to tell the OP that, no matter whether it's an ebook or a paperback, verses just don't sell very well.