It's not possible to search fav:__ (or user:__) along with an exclusion tag; doing so returns the message "You cannot search for only excluded tags". This seems to imply that fav:__ and user:__ don't count as search terms. Well and fine. However, an ordinary member is not permitted to search fav:__ along with two "normal" terms; doing so returns the message "You can only search up to two tags at once with a basic account". /This/ implies that fav/user:__ does in fact count as a search term.
Not a world-shattering problem. But. Which is it?
Updated by chainedwind