MetaType1 is a system devised to create PostScript Type 1 fonts from MetaPost sources, similar in spirit to Knuth's original MetaFont but producing outline fonts instead of bitmaps. It comprises a set of MetaPost macros and AWK scripts, and its typical output is a TFM file, which expresses the font metric information to be used by TeX itself, and a PFB file containing the glyphs, which is needed by dvips or the PDF backend of pdfTeX and LuaTeX. Latin Modern is perhaps the best-known font created with MetaType1.
Fonts in OpenType format can also be generated from there, and are sometimes distributed along with the Type 1 versions. The Latin Modern package in TeX Live, for instance, includes both the Type 1 and OpenType versions.
My question, as the title states, is whether the OpenType flavor of fonts created with MetaType1 carries any information that the Type 1 flavor doesn't. In particular, I would be interested to know whether the PFB file contains all the glyphs of the font, as the OTF file does (instead of, say, 256, as is the case with TFM files in the metrics area).
As for the use case, I need to produce both PostScript and PDF output (I am using LuaTeX). Since dvips cannot cope with OpenType files, I have to resort to the Type 1 versions when producing the DVI. Thus, I would like to know if I may expect no difference in output. Furthermore, if the PFB versions are exactly like the OTF ones (sans metric information), I could just use the former when producing the PDF as well.