Yes. Eligible for Cache is the equivalent to Cache Everything level.
Cache-Control set by origin will be ignored for Edge or Browser cache, depending on what you set.
So if your origin has dynamic content with Cache-Control: max-age=0 or equivalent, and you set your Cache Rule for the URL as Edge: Eligible for Cache you’d also need to set it to override the origin so that Cloudflare caches that URL. If you Browser Cache TTL is set to Respect origin, Cloudflare will cache the URL while the visitor’s browser won’t.