iTunes Match Do I get this right?

Hello guys. The Apple Site says:

"Once your music is in iCloud, you can stream and store it on any of your devices. Even better, all the music iTunes matches plays back from iCloud at 256-Kbps AAC DRM-free quality — even if your original copy was of lower quality."

So I get this:

1- All my music will be on the cloud even if I delete them from my idevices and computers after I upload/match them to iCloud. So I can download them any time I want.

2- Only matched songs will be available to stream play. I can only play my unmatched songs if I do not delete them or download them back.


Am I correct?