We're really good at muddying up the definition of words in this country, but individuals defining some these words to fit themselves is fine with me if I know what they are talking about. One thing I'd add to this discussion of differences in farming and homesteading, is that you can do both.
I'm often hearing the term farmstead these days, like @rockybrookfarm has used. I like it, seems to be a nice bigger box for us to fit in. Another example is @coghill, who goes by Cog Hill Farm & Homestead. Brilliant. Why not both? :)
Right! You sure can do both.