Advantage of lightmaps over baking on diffuse

What's the advantage of using lightmaps over baking radiosity lighting, ambient occlusion and shadows right in the color/diffuse textures? If any?

The advantage is that ...

  1. ... you can set higher resolution of your color textures opposed to your lighting situation. You can also use overlapping textures on your primary UV Set.
  2. ... you can reuse generic textures on different models because there's no lighting baked into them
  3. ... you can change the Lighting of a Scene by only changing the Lightmaps and keeping the Colormaps/shaders intact. no need to change the complete scene textures.
  4. Lightmapped geometry also reacts to dynamic light souces. Some shaders like flat bright color don't.