What is the difference between linking a file, and embedding a file in your Illustrator document?

1. Linked files are cmyk, embedded files are rgb.

2. Embedded files are high resolution, Linked files are low resolution.

3. Linked files can be part of Clipping Masks. Embedded files cannot.

4. Linked files are only placed in the document. Embedded images are copied and made a part of the file.