Yes, I believe you understood the question and thank you for the scenario. It all sounds right to me and I agree with you.
And if I understand you correctly, we use the print page number that applies.
For further clarification I just want to go a little further. Let's say volume three contains chapter 3 and the notes in chapter 3 appear on the next print page 739. In the ToC, is the print page 739 used for the Notes entry page number? Or is the print page number 738, which is the only page number shown in the Toc for the Notes entry in print, used for all volumes?
Thanks for your help on this!