Sounds like it might be popeye which I've read is treatable. There was a recent thread with someone whose fish had it, and it seems to be recovering nicely.
Here's the thread: http://www.bettafish.com/showthread.php?t=39323
The original poster provided pictures, so you'll be able to compare your fish's condition. As well, a number of treatments are suggested in the following comments which should benefit you.
As for the side wound, I have no idea what it may be. If you're able, try and get a picture of it so that others may find a cause.