I know the differences between PIPE_WAIT and PIPE_NOWAIT modes when a named pipe works synchronously. The documentation is very clear about it.
However, it does not say anything about those differences when a named pipe works asynchronously (with FILE_FLAG_OVERLAPPED). I could not find any difference from my experiments. Therefore, I assume that specifying PIPE_WAIT or PIPE_NOWAIT makes no difference in this case. Is that correct?