You are right on all counts.
But I am working with a client whos suppliers send PDF spec sheets and he likes to use them as they are.
Also yes we can use the link area to simply link to a PDF file already residing on the web server, but what it sounds like we both want is a simple way to upload and link to a PDF file in the 'New Product' screen. Making it easier for a client who is not web savy to make happen.
Seems like at some point someone might have built something like this so it doesn't hurt to ask.