Cris,
You're basically correct. There has been a lot of discussion on these topics on this board and some searching will produce a lot of answers to your question. Using Google's advanced search and limiting the "site" field to this URL works best for me.
The term "Efficiency", however, isn't very important when your source of energy is FREE. This is an important point to take away from Flux's text in "Matching the Load". More important is safety, either protection from overspeeding blades, overcurrents in wires, overcharging batteries, or overheating the stator. These requirements box you in, and the only way out is $$. Mechanical complexity, like the variable gap you mentioned, or variable pitch, on the other hand, can help, but there is always a cost.