I look at it as the difference between the center of gravity (COG) and the center of lift. Wing shape and speed determine how much and where the lift is, so as spin and forward speed decrease that center of lift moves in relation to the center of gravity. Lift in front of the COG keeps the disc in the air (glide), and lift to either side of the COG will tilt the disc into turn or fade.
First two sentences, yes.
Last sentence, No.
Doorfenschmirtz went over that in his talk about precession.
Watch this video: https://www.youtube.com/watch?v=eTjGTxSevHE
Lift in front of the CG will precess 90 degrees in the direction of rotation and force a tilt to the left.
Lift to the right of the CG will precess 90 degrees and force a nose down.
Lift to the rear of the CG will precess 90 degrees and force a tilt to the right.
Lift to the left of the CG will precess 90 degrees and force a nose up.