"The shortest possible wavelength would be the Planck length, while the longest wavelength would be? Even during the first fraction of a microsecond after the big bang, I doubt there ever existed a sufficiently energetic reaction to produce a Planck wavelength photon. Since the universe was opaque to radiation for the first 750,000 years, we can never have direct evidence of the original photons energy as they were immediately absorbed after being emitted."
Actually the whole theory of inflation for the early universe happens at a time that is the planck time (10E-43 seconds) and when the light produced was at the planck limit.
Also, light doesn't spontaneously transform into particle/anti-particle pairs, it needs to have a high enough energy to do this, 'exactly' twice the rest energy of the particly to be created. When the particles annihilate, 2 photons are produce each with the rest energy of the particle. If you supply extra energy to the original photon, the resulting pair will have some kinetic enery and will start with some angle other than 180 degrees.
There are times when energy for this process can be borrowed from nowhere to make particle pairs, however usually they are instantly annihilated so energy is conserved overall, this process is the basis for Hawking Radiation.
Particle physics is really freakin strange sometimes, apparently there is a discrepancy between the mass of a particle and its anti-particle, when they annihilate there is a 'residue', this residue is the matter in the known universe left over from the big bang->we're the residue!
Photons are indeed massless, there are other particles thought to be massless as well, some we're not sure about, there is a certain type of neutrino that is thought to be massless as well as being able to travel backwards through time