Understanding Default Policy Tags in Exchange 2010

I'm having difficulty understanding the terminology for Default Policy Tag, and how to create one, and what it applies to.

The Microsoft definition:
Default policy tags: DPTs apply to untagged mailbox items in the entire mailbox. Untagged items are mailbox items that don't already have a retention tag applied, either by inheritance from the folder in which they're located or by the user.

When I go to create a Retention tag - there is no option for a Default Policy Tag.

Am I correct in saying the following statement:
When creating a Retention Policy Tag type: All other folders in the mailbox  with action Move to Archive after 60 days, this will apply to the entire mailbox and its contents.

The exception of this, is when I have specified a Retention Policy tag, for example Deleted Items, Permanantly Delete, 30 day retention

The deleted items folder in this case will have 30 day delete rule, instead of the 60 day move to archive.
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Another scenario:

A Retention Policy Tag is created with type: All other folders in the mailbox  with action Move to Archive after 60 days, this will apply to the entire mailbox and its contents

A Retention Policy Tag is created with type: Inbox  with action Move to Archive after 60 days, this will apply to the Inbox folder

The two policies above are essentially the same thing being applied to the Inbox folder.


Thanks for helping clear up this confusion.