Registration Funnel Query

I have decided to use the registraion funnel feature and activated it yesterday.

This is what I have:

1 Agree to the Rules
2 Fill In The Required Info
3 They Submit It
4 Require Email Validation

Through my analytics, I have the goal setup as:

1 /google-funnel/agreement.html
2 /google-funnel/regform-show.html
3 /google-funnel/regform-submit.html
4 /google-funnel/registration-complete.html

I am assuming I have this setup correctly so far. The actual goal is set as:

/google-funnel/registration-complete.html

What is bothering me is that I know at least 2 users have joined since I activated this. One of them was a test account by me, and the other was simply a new user. Both myself and the new user verified the email address and were activated.

When viewing my analytics goal, it shows 1 user having started the process, but never confirming the email address. (Or at least never reaching the goal page.)

Since it is showing statistics, it is safe to assume that it is working. What I don't get though is why it shows 1 user, and shows that user as not having completed all the steps when in fact they did.

How is it tracking if a user has confirmed their email address? Is that done via IP address? What happens if a user registers, but doesn't verify their email address until the next day, or perhaps several days later. Why is it saying that the user didn't complete the goal when I know for 100% certain they did?

how long ago did you start it? analytics is NOT real time.

I started the funnel yesterday afternoon. The "1" user it is showing is my test account. (Which I have been suspecting). It still isn't showing I had confirmed though, which I did immediately following my registration. If it were showing my account registration, it should display me as confirmed one would be led to believe. lol

This is my first time using a goal, though I have been using the analytics for 1.5 years. Does everything from above appear to be correct? Perhaps it is just lagging?