Learning differences between Early Binding & Late Binding

[mc84excel]

I am trying to learn the important differences between using Early & Late binding. Below is a summary of what I have noted so far:

1. Reference Libraries: Early = Required, Late = Doesn't use (? see post by Kyle123)
2. Speed: Early = slightly faster, Late = slightly slower
3. Intellisense: Early = Uses, Late = Doesn't use
4. Compatibility: Early = Low, Late = High (? see post by Kyle123)

My questions:

1. Is there anything in the above summary that I have incorrect?
2. Is there any important difference not in the above summary that I should be including?
3. When using binding I am more concerned about compatibility for other uses (more than speed increase). Would it be an idea to write the code in Early (for Intellisense) then convert the code to Late after it is working correctly?