Concurrent Embedded and External Scripts?

I just recently redid my webpage with both external and internal scripts.  
My external script contains the functions I use, and the internal is for 
things like preloading images.  So far, I haven't had any problems with it 
in IE or NN.

Dack

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1   <><       Dackral Phillips           <><   1
0       http://www.redrival.com/dack           0
0      http://www.auburn.edu/~phillds          1
0      e-mail: htmlhacker(at)hotmail.com          0
1   CHRISTIANITY COMPUTERS LANGUAGE CHESS      1
0                                              0
010001000101001101010000010001000101001101010000

>Unless things have changed, I was taught this :
>----------------------------------------------------------------
>If the browser is unable to fetch the external script it will
>execute any embedded script; otherwise it will ignore the
>embedded script. An example follows:
><SCRIPT SRC="foo.js">
><!--
>// embedded script, only executed if foo.js is unavailable
>// -->
></SCRIPT>
>----------------------------------------------------------------
>  @ http://www.htmlhelp.com/reference/html40/special/script.html
>----------------------------------------------------------------
>So, is this no longer true?
>If so then I will remove it from my code.


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