Given that total cholesterol includes protective hdl, isn't a high total cholesterol warning irrelvant?

Possibly: The absolute numbers of each cholesterol fraction need to be interpreted in the context of a patients risk factors for heart disease and stroke. Total cholesterol (tc) isn't as important as the tc/hdl ratio. The lower the ratio, the better. Let's say you have a cholesterol of 240, which would be consider high. If your HDL is 80, your ratio is 3.0, which is excellent.

Not neccesarily: Total cholesterol is made up of different part, so having a high HDL does not completely wipe out the high ldl.

No: Total cholesterol levels higher than 200 or so are associated with increased cardiovascular disease.