What is the difference between ‘cl-labels’ and ‘named-let’?

The Emacs Lisp reference manual does not describe the
difference between the new-ish (since Emacs 28) ‘named-let’
and ‘cl-labels’ (other than the syntax, which allows
‘cl-labels’ to define many recursive local functions, while
‘named-let’ can only define one function per call).  Are
these two different in some significant way?  The
description for ‘named-let’ says that recursive calls in the
tail position are guaranteed to be optimized tail calls,
while the description for ‘cl-labels’ does not mention this.
Is this not the case for ‘cl-labels’, too?

  (info "(cl) Function Bindings")

Also, the Emacs Lisp reference manual describes ‘named-let’
as a special form (like ‘if’), while its docstring describes
it as a macro.  Is this an error in the reference manual?

  (info "(elisp) Local Variables")

-- 
The lyf so short, the craft so long to lerne.
- Geoffrey Chaucer, The Parliament of Birds.