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yes, they’re effectively the same

Yes and no (I've been using them in Terraform some time ago) - if you use them both in the same security group, you will have a conflict. You should: • use "in-line" if you know all the rules when creating a security group • use a "standalone Security Group Rule" when you are creating a security group in one place and can change some of the rules in another place • never use them both in the same security group In my opinion using a "standalone Security Group Rule" is more universal in most cases.

Thanks for clarification @billowy-army-68599 and @purple-coat-73595!