@ProblemSolver.

I am little skeptical about approved TPS and can be in your original status if you didn't apply for EAD. I am thinking once TPS gets approved, your current status gets terminated.

Scenario: F-1 applies for TPS. Gets approved. His student VISA (Visa in passport) expires on Nov, 2016. One more assumption, TPS ends on Dec, 2016. What will be his status after Dec 2016, although he has fulfilled all the criteria as F-1.
Ans: F-1, I highly doubt it, coz he has an expired visa. What if having an I-20 and maintaining F-1 status is not sufficient to come back to original status. What if having a valid visa and maintaining F-1 requirements is must to come back to your original status?

These questions still exists for this scenario. Although, it mentions that, you can come back to original status in that notice, I am not sure its that easy.

My perception though !!! We still need to get a full confirmation before we apply for TPS and regret later on coz F-1 and H1b can maintain their status anytime in future without TPS and with expired visa.
Dependents, go for it coz you have got somebody as your back up.

PS: Just my thoughts !!! Do not take it at all if you think these info are misleading......