The commerce clause does not give the power to congress to regulate commerce. Its only intent is to prevent one state from imposing tariffs or taxes on the products of another state passing over its borders. If the “general welfare clause” was intended to trump article 1, section 8, then the founders wasted ink when penning the rest of the Constitution. They did not, of course, intend that.
Yes, it does. That's exactly what it says. The only issue is what was meant by the phrase "regulate commerce."
If you mean to assert that the modern meaning is much broader than the one intended by the authors, then I agree.