Roll Out Refrigerated Cookie Dough?

Yes you can or make your own in your food processor in 3 minutes and not have any nasty processed stuff in them:

2 eggs
3/4 cup sugar
1/2 cup oil
1/4 cup orange juice or water
2 tsp. baking powder
3 cups flour (I use half regular flour half whole wheat)

Preheat oven to 375°F.
Process eggs with sugar, oil and juice or water until blended, about 5 seconds. Add baking powder and flour. Process just until mixed, using on/off pulses. Do not over-process.
Divide dough into 4 pieces. Roll each piece on a lightly floured surface into a rectangle about 1/8 inch thick. Using assorted cookie cutters, cut in different shapes. Place on lined cookie sheets. Bake for 8 to 10 minutes, until golden.

Faster than going to the store and picking up the dough...

Yes, it's fine. Just make sure the dough is really chilled, and you'll need to flour the surface and rolling pin really well, because the dough is a little more sticky than if you used a special recipe for cutout cookies.

Yeah, I've done that before. Just flour the surface & roll.

You can roll out tube dough but I would suggest refrigerating your cutouts for 5-10 minutes before putting in the oven or they won't retain their shape during baking. As long as your cutouts are cold when popped in the oven you should be fine.

Don't use flour. It will mess up the cookie dough and make it too dry. Roll out the dough between two pieces of wax paper and you should be fine to use it however you like from there.

Yep, use flour and start rolling. It gets easier when the dough is close to room temperature too.