Yep pretty much how I see it. Most ppl might not initially agree with this statement but splitting a 24 word seed into 2 halves (splitting into 3 or splitting a 12 word seed is obviously dumb) is a great option for long term cold storage

Brute forcing 12 or 11 words w/ checksum is equally as pointless as trying to brute force 24 words. 

Eliminating single point of failure & capture requires 4 geographical locations. 

Wallet restore is simple, potential for error is reduced & less education required for inheritance planning. 

Could apply same logic to 12  word seed encrypted w/ passphrase….

Hww set up w/ encrypted seed in location 1, passphrase at location 2, 1-12 words in location 3 with passphrase again location 4