>1) Separation of html and code, as you already know.

Your code and HTML is still seperated when its all in one file.

>2) Code behind is a class.

Good point.

>3) Codebehind is compiled, script in aspx is not. Of course this means that is faster to execute.

Script in the ASPX is still compiled as code, is it not? When you say its faster to execute, you're only talking about the first hit to the page, right?