I agree except that 'taking an operating role in the business' is a big grey area.

For example, I could see someone meeting (1) & (2) but merely providing some of the graphics for your first prototype. This may be crucial to your first prototype, but it is an extremely replaceable skill-set and it is not crucial to the longevity of the company. This person should not be considered a co-founder of your business. Now say the same person helps out with product development, takes over marketing and demonstrates that he can one day manage people and you've got someone who is less replaceable and more of a co-founder. Therefore, I think you need to make really clear what you mean by 'operating role in the business' before you make decisions about co-founders