[fl3x]

Sorry for nitpicking, but I think local storage is a part of Web Storage (http://dev.w3.org/html5/webstorage/), and not Application Cache (http://www.whatwg.org/specs/web-apps/current-work/multipage/... or http://dev.w3.org/html5/spec/offline.html).

I think that the Application Cache quota is not strictly connected to the local storage and session storage limits.

[ef4]

That's correct. Chromium has talked about unifying all these kinds of storage under one quota system, but it's not done yet.