Texture baking and dynamic scenes

I was just reading up on baking textures to safe time while rendering an animation.

I just want some clarification on when it is possible to use baking.
I was trying a few things out but notices when I have moving pieces in my scene it isn’t possible to use the baking technique to save time, is that correct?
For example if I have a ball rolling over a glass table, it won’t make much sense to use baking because the reflection of the ball moves along with the ball and with the baking, the reflection needs to be stationary. Is this correct?

It is good to use baking when you only move the camera around or bake texture for objects that do not change during the change.

Just want to make sure if this is correct.

Glass and gloss are view dependent, guy. You can only bake diffuse for an animation. One node and that being Diffuse. Which means that baking is really only helpful in archviz scenes with walls.