The way to go XNR!
I do totally agree with you...hey guys, here in Canada we do treat settling with power and VSR as two different things because they are!
Settling with power is when you don't have any more power available to stop de descent of the helicopter(even if you are within de 300fpm and less than 30 kts).For this to happen you need a combination of the 3 H: Hot High and Heavy!
On the other hand, VRS , can happen anytime, you can be as light as a feather and at Sea Level....that if you descent at more than 300fpm and at less than 30Kts you are flying in your own downwash! As my instructor at Canadian Helicopters said VSR is as if you farted in your own sleeping bag!
Hope it helps!