The second is that a launch aircraft at 30,000 or 40,000 feet is providing not just forward velocity but has also allowed the first stage to avoid some gravity loss (to accelerate at 1G at launch you need 2Gs of thrust). It's also allowed the first stage to side-step a major portion of the aerodynamic resistance.
Finally, an air-launched system is not as strongly constrained to specific launch windows. When targeting a specific orbit, you don't have to wait for a specific launch window at the primary launch site (the airfield), you can simply wait until one is relatively nearby and fly to it. This might be a big operational advantage even when it's not a big performance advantage since you can launch your aircraft when you have decent weather over the airfield and the fly to a more ideal spot to launch the rocket. If the radius of the loaded launch airplane is wide enough, this could be a very big advantage.
Even if you add all of these effects up, it's still a pretty small fraction of the 9,000 m/s of delta-v or so that you need to reach orbit. But keep in mind that rockets only deliver a few percent of their launch mass to orbit. A relatively small reduction in the delta-v needed to reach orbit might result in big gains in payload into orbit. In extreme cases, maybe it could double it.
The biggest disadvantage of air launch is that you are seriously constrained in the maximum size of the rocket. The Stratolaunch aircraft can carry about 230 metric tons of payload, whereas a Falcon Heavy weighs in at something like 1,400 metric tons[2].