NVRAM, settings, and factory resets, and the design of AsusWRT

I've read Merlin's NVRAM FAQ posting, and have a few derived conclusions that I think I've arrived at, and would appreciate a comment as to how accurate they are (apologies if they're blindingly obvious to some, or laughably simplistic etc). And then a couple of follow up questions if I may (and who knows, some of this may be deemed worthy of inclusion or addressing in his FAQ).

#1 - There are in...

NVRAM, settings, and factory resets, and the design of AsusWRT