This is a specific question: The Ghost Touch weapon property states that:
...Essentially, a ghost touch weapon counts as either corporeal or incorporeal at any given time, whichever is more beneficial to the wielder.
The most beneficial situation I can think of is that the weapon counts as incorporeal and ignores Armor and Shield bonuses, unless they're from force effects, or have the ghost touch property themselves. The weapon then counts as corporeal when striking, thus avoiding miss chances. Is this correct?
Indeed, I envision ghost touch arrows, bolts and bullets striking through total cover as if it weren't there (though concealment could still apply).
My question again is: Is my above interpretation that ghost touch weapons may ignore material cover, armor, and shield bonuses, yet not have an incorporeal miss chance, correct?
(I realize that this appears to be a repeat question, but neither the question nor the answer addressed this to my satisfaction.)
I forgot the second component of the question: How does this interact with the attacks of incorporeal creatures?
An incorporeal creature's attacks pass through (ignore) natural armor, armor, and shields, although deflection bonuses and force effects (such as mage armor) work normally against it. Nonmagical attacks made by an incorporeal creature with a melee weapon have no effect on corporeal targets, and any melee attack an incorporeal creature makes with a magic weapon against a corporeal target has a 50% miss chance, except for attacks it makes with a ghost touch weapon, [which] are made normally (no miss chance).
(I edited one word, 'while' to 'which' in the above quote, since it made no sense otherwise, and though I'm picking apart rules here, I'm not looking for 'silly-RAW' shenanigans)
So, it appears to me that an incorporeal creature's attacks with a ghost touch weapon continue to be incorporeal touch attacks, but with no miss chance. Am I correct there, or would they become normal material attacks, thus being affected by corporeal armor and shields?