>What I have found is that it picks or uses the last value for the field that it encounters, in the case of the Max function, it will choose the value attached to the record that meets the max condition, so it will work, but it is not really technically correct. A hidden feature!

In my tests it does not. I'm positive that, for fields other than the one in max(), it may pick a value from a different record than the record having the max. So, I'd say it is rather a trap, not a feature. If you are not convinced, I can send you a demo-test.