There does appear to be one mis statement in the above synopsis, otherwise a great summary. The covered period does not depend upon whether the loan was funded before or after June 5 2020;

• Covered period of the loan: Either 8 or 24 weeks depending on when you received your loan (before June 5, 2020 = 8 week period, after June 5, 2020 = 24 week period)

...as of June 5 the borrower had the option of choosing the 8 week period or the revised 24 week period for any PPP loan.; 
From the newest Forgiveness form...
Covered Period: The Covered Period begins on the date the loan was originally disbursed. It ends on a date selected by the Borrower that is at least 8 weeks following the date of loan disbursement and not more than 24 weeks after the date of loan disbursement. For example, if the Borrower received their PPP loan proceeds on Monday, April 20, 2020, the first day of the Covered Period is Monday, April 20, 2020, and the final day of the Covered Period is any date selected by the Borrower between Sunday, June 14, 2020, and Sunday, October 4, 2020.