Thanks for the heads up on that missing text. We’ll check that out. Global Blocks are “deprecated” because we want to hide them from new users who would be better off just starting directly with Components. At the bottom of Settings under “Elements” you should still see a Global Blocks element listed there. Toggling it to show in the library should bring it back.
The element is still called Global Blocks to make it clear that you’re using Components in the backwards compatible form.
And yes! You can certainly nest components together. You could even put a Global Block in a component or vice versa. One caveat is that you can’t use a Component within the same set where it gets exported from. So you’ll need to make multiple component sets.