Oh, right!

I am not used to this implicit style (omitting braces and ELSEs), and it seems I was not reading very carefully, and I got really confused! :-D

Thanks for the answer!

That is a clever solution to an annoying problem that I have avoided in my personal usage of WP only because I use teasers and excerpts on the front page and on index pages.

Theme authors could consider that for inclusion by default in their themes.

BTW, did you forget an operator in your IF statement or is my mind not working OK?