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Since the parts cover a range, most of them, in order to maximize yield, will be considerably better than the spec. They're not guaranteed to be though, so you can't count on it. There's also "binning." The "bins" are not actual bulk containers, but classifications for sale. For an EPROM, the "bins" might be for example 55ns, 70ns, 100ns, and 120ns. The parts are tested, and each one is put into the fastest bin that it passes the test for. So imagine a part marked 100ns. It might have been 71ns, which is faster than marked, but not fast enough to make it into the 70ns bin. Or it might have been 99ns. You don't know. They can charge a little more for the faster ones, without throwing out the slower ones.
Agreed. This is how they categorise modern CPU’s like Intel and AMD’s, for example.
Using Pentiums as an example back when the only difference was clock speed, it was exactly that. They all came from the same fab but were classed on what tests they passed. You might get a bunch of Pentium 200’s out of a batch (that passed the 200MHz tests), then the ones that failed at 200 but were stable at 166, 133 MHz etc, were stamped accordingly and sold as Pentium 166’s and so on.
Comes back to the old “silicon lottery”.