Default [Q] What does flashing the factory image return my device to

if I have already upgraded to kit kat 4.4.2? I take it that since the 4.4.2 OTA hasn't been pushed for my Verizon Dev Ed device, that the factory images I have been given by Motorola are for 4.4.

But once the 4.4.2 OTA is pushed, the factory images I have now would be out of date because those are for 4.4., right? Then will Motorola release 4.4.2 factory images later?

Also, what does it mean when in bootloader mode it says Device is UNLOCKED. Status Code: 3. What is the status code 3?