A neat chart to help understand exposure.

[Major Nikon]

2. I've seen this chart floating around the internet for many years

It's a good chart. Here's a few things I'd add...

For 35mm and APS sized formats (most DSLRs), diffraction distortion will start to become noticeable with most lenses starting at F11 or F16, becoming more noticeable the smaller the aperture. Also most lenses will not be at their sharpest until stopped down one or two stops. So a F/2 maximum aperture lens will probably be at it's sharpest somewhere between f/4 and f/5.6.

Telephoto lenses are more subject to camera shake than normal or wide angle lenses. A good rule of thumb for hand holding the camera is to use a shutter speed that's at or faster than the focal distance. In other words, a 200mm telephoto would need a shutter speed of 1/200 or shorter. This still means you need to use good steady hand holding technique.

Wide angle lenses have much more depth of field than telephoto lenses, so it's a good idea to consult the DoF marks if the lens has them (most modern lenses don't), or a DoF chart for the focal length you are using. Smart phone apps are also good for this.