Hopefully MidlifeFlyer will come back and provide all the excruciating details, but you can log time in an aircraft for which you are not qualified to act as PIC if you are rated in the aircraft. For example, if you hold a private pilot certificate with an airplane single-engine land rating, but you do not have a high performance endorsement, you can still log the time in a Cessna 182 as PIC time while you are the sole manipulator of the controls. Endorsements limit your authority to act as PIC, they do not limit your logging of PIC.