plex, I basically agree with your assessment, except I don't think if you get reliance you automatically get restitution. Sometimes restitution can be a greater value than reliance. If the breaching party can show that the non-breaching party would have suffered a loss if the k had been performed, they can get out of paying reliance damages, but this won't work for restitution.
But OP why are you learning this now? Your sig says you are class of 2011--were you a summer start?
Some classes here learned damages first in k's, before even offer, acceptance, consideration, but I think that's a really confusing way to learn.