Hello Raja,
Sorry that I took so long to reply. I only got this message now (I think I have the mailing list set to notify me weekly instead of daily).
Regarding your questions:
Regula does not emulate HTML5 native-constraint validations. However, if you use HTML5 constraints (which version 1.3 will have; it will be released shortly. I am working on the docs now) it will use the native validators if they are available. Otherwise, you will need to provide a shim. As far as comparisons against jQuery Validation, I haven't really performed any benchmarks, so I am not sure.
Regarding your second question, the constraint violations do not perform any sort of rendering. This is by design since I did not want to have error-message rendering tightly coupled with Regula and I wanted to concentrate much more on the validation aspect rather than rendering. With this in mind, I would rather that rendering code did not exist inside the Regula code-base since I would like Regula to focus on validation rather than rendering.
However, that is not to say that you cannot create a renderer (perhaps as a separate project) that looks at Regula's constraint violations and renders those messages. You can simply pass the results of validation to your renderer and it will take care of the rest.
Hope this helps!