The bubbles are a bubble nest built mostly by males and are a response to certain environmental conditions (still water, something to anchor nest to, etc). It doesn't necessarily mean he's happy, but it's still a generally good sign. How often a betta builds bubble nests is a personality quirk.
Feeding 2x a day is pretty standard but it's flexible. You can get away feeding 1x a day, every other day, skipping weekends, etc. Some people purposely fast their betta one day a week to purge their system and prevent bloating.
Peas are a controversial subject. Some people believe it helps with bloating, while other people believe it can be harmful since bettas are normally insectivores and don't have the digestive tract to deal with plant material well.
Last edited by ihatefirewalls; 07-18-2012 at 02:36 PM.