Can anyone explain the Run Modes of QTP Tool in detail?

Can anyone explain the Run Modes of QTP Tool in detail?

There are three modes of replaying the test. These are not listed on the tool bar.
When we hit the Run button we get the “Run” dialogue box, which gives us two options.
1. To save the results in New run results folder. This is the Verify mode.
2. To save the results in Temporary run results folder overwriting the earlier results. This is the Debug.
3. When we need to run the test to update the Checkpoints go to “Test” menu and select “Update Run”.
1). Verify Mode:
If the test engineer wants to save the results of the test run to compare and verify with the future runs of the same test he would go with the Verify mode.
2). Debug Mode:
If the Test engineer does not want to save the results as he is yet to finish the script or he is testing his QTP coding logic he would run the test in the debug mode.
3). Update Mode:
If a test engineer wants to update the expected results while running the test, say for example while recording the script the calendar date was 10/20/2002 and while executing the test it is a different date (system date), then the test should be run in the update mode other wise the test would fail because of the changed properties of the object.

Thanks very much pria.