p3p policy and compact policy differences

Am I correct in assuming that a compact policy is only required for 
cookies, but a p3p policy applies to all information collected, such as 
through forms?

So if a site collects information through both forms and cookies, then we 
could create a p3p policy xml file with a number statements covering all 
information. But the compact policy would just detail aspects that relate 
to the cookies.

I got the impression that some vendor solutions seemed to create a compact 
policy from all the statements in a p3p policy, but that could be incorrect 
if a site collected some information through forms (as most do).

Cheers,

Graeme Eastman
Eastman Internet
Email: [email protected]  http://www.eastman.com.au