1. Is the default setting "power off?"
Yep.
2. Does this happened from a booted OS?
Yep.
A. Windows shutdown from OS-> System shuts down and stays "Off"
B. Windows hiccup power loss from OS (flip the breaker quickly)-> System turns back on after power loss
Do the above states function correctly?
I tested the following scenarios just now:
stock PSU cable, "Restore on AC/Power Loss: Power On"
1. Shutdown from OS
Expected: Power off
Actual: Power off
2. Quickly flip surge suppressor on/off switch
Expected: Power on
Actual: Power on
m2427, "Restore on AC/Power Loss: Power On"
3. Shutdown from OS
Expected: Power off
Actual: Restarts
4. Quickly flip surge suppressor on/off switch
Expected: Power on
Actual: Power on
stock PSU cable, "Restore on AC/Power Loss: Power Off"
5. Shutdown from OS
Expected: Power off
Actual: Power off
6. Quickly flip surge suppressor on/off switch
Expected: Power off
Actual: Power off
m2427, "Restore on AC/Power Loss: Power Off"
7. Shutdown from OS
Expected: Power off
Actual: Power off
8. Quickly flip surge suppressor on/off switch
Expected: Power off
Actual: Power off
All scenarios work as expected except for scenario (3)