Thanks for your reply.
Let us restrict this discussion to full online backups.
Upon further reading, I get the following impression. Please let me know if you disagree:
One can do multiple online backups without doing any roll-forward in between. Each time an online backup is done, the corresponding log files are closed and archived. So, one can do online backups A, B, and C in that chronological order. Then, at any time one can do, either full recovery, or at least to the time that backup was made. For example, one could do either full recovery from backup B or recover upto the point in time B was backed up.
If this is true, I like the online backups even more!
Thanks