Given the amount of tornado warnings the Northeast had yesterday, I'm surprised only one tornado came out of it.
They should give "tornado warning" its original definition again: that a tornado has been spotted. Currently, it's not much different from a tornado watch.
I mentioned this in another thread but the "original definition", as you call it, was never fully done away with.
Rather, they added the "radar indicated" option, as the new technology of radar can detect debris in the air after a tornado has occurred. This is particularly helpful at night when tornadoes are difficult to visually spot, or in situations where a tornado may be rain wrapped.
To address another point in this thread, as noted, "Particularly Dangerous Situation" tornado warnings ARE indeed issued by NWS offices. This is done for tornadoes that are doing significant damage, but the situation does not rise to the levels warranting a Tornado Emergency, which is still an accepted type of enhanced warning.
The bottom line: ANY tornado can be life threatening -- so the distinction between a PDS, a Tornado Emergency, and a "normal" tornado warning should be irrelevant to your safety -- seek shelter immediately for any tornado warning.