Based on what I have read so far in the entire documentation related to IAP about product restoration.

A restorable product is technically any IAP product that has been purchased by a user is flagged as "restorable".

Am I correct about this?

Unfortunatly, at the current implementation of Nokia IAP system, this limits how I want to approach my business model of free to play single player games.

I want to be able to have products that technically can be re-purchased to be replenished, such as game lives, just like in the arcades, or similar in-app currency mechanisms.