Lost Arra and I agree with the definition. Think of it this way: String follow can occur, and does, because of set but it can also be built into a bow intentionally, too. The Egyptians built bows with string follow before ever being shot 3000 years ago. (info from the Traditional Bower's Bible). I've read some fiberglass bowers are building string follow into certain designs, too, for sweetness of shooting.
Set, in and of it's self is the compression of the belly wood during tillering and, or shooting that causes the wood not to spring back to exact shape as it was once it was first built. If a bow is overbuilt set may not be noticeable at all. I've not had that occur, yet! This is on an all wood bow. I've not noticed any FG bows to take a set.
Both string follow and set prevent the bow to acheive it's highest performance but if it shoots well it is perfectly tolerable.
I hope this helps. Many times the two terms are used interchangable but they do have a slightly different meaning.