At risk of restarting the beating of another dead horse....
I think contemplation of terminology like this ends with the concept that while there is (or no longer is) a firm distinction between these terms, most kinda, sorta, almost know, in general, what one means when a given item is mentioned.
Like the request to list the absolute specifications for "mild steel."
--ShopShoe (with tongue firmly anchored in cheek)
(All I good fun, of course.)
Ah yes, the esoteric conversation. Sitting around politely discussing the finer points of something, but not really doing anything. A gentlemanly pastime for those with time on their hands.
As the OP said he is a good lathe hand, but has missed some of the finer points of the conversation. A friend of mine who knows zero about machining, but reads slot, once asked me:
I have heard their is a big debate about whether you det the compound to 29 or 30 deg for threading. What do you think.
ME: Hmm I don't know. I just dial in 2, and left, 1.
Knowing the lingo and specifics is nice, but how did your latest part check out when you inspected it?