You're correct. When I mentioned 'Factory' above, I was actually referring to Factory styles that have been further 'tweeked' and thus stored in USER STYLE locations. If you stick with using just the contents of AUDYA as presented out-of-the-box, then just the Registration file will sufice when sharing amongst friends.
Italy for a few days (to wrap up on Style development) and then France for some Sound research.
What a more relaxing atmosphere EU seems to have ...