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"2. Have to comment the //#ifdef HAVE_TOUCHPAD and //#endif // HAVE_TOUCHPAD in TouchControllerWs.cpp to get it compiled with touch support, which is not documented any where."
I suspected that it's because that file gets compiled before it has a chance to #define HAVE_TOUCHPAD in settings.h, though not immediately obvious to me that that should be the case.
"3. There should be a way to change and configure the wifi ssid and password without flashing it again."
I thought so as well, so I was going to try to implement WifiManager into this program:https://randomnerdtutorials.com/wifimanager-with-esp8266-autoconnect-custom-parameter-and-manage-your-ssid-and-password/
"4. Time is continuously blinking between 12h format to 24h format, I yet need to look into it."
Look for the line " IS_STYLE_12HR = !IS_STYLE_12HR;" which is supposed to be triggered by the Touchscreen. I commented it out, and that fixed the issue, but the underying cause is a problem with the touchscreen code not running right. I suspect my pin assignments are incorrect.