Your first point is correct, but just to clarify your second point, these two definitions are not quite equivalent, as there is a world of functions growing more quickly than log^k(n) no matter how large constant k, but still within n^o(1).
For an example, consider 2^sqrt(log(n)).
This is a bit similar to something being faster than polynomial, but slower than exponential.
For an example, consider 2^sqrt(log(n)).
This is a bit similar to something being faster than polynomial, but slower than exponential.