Jeff,
i'd like some Apple guru to comment here, but based on my experience, there are different terms of enrolling a device to PM (=unsupervised) and enrolling it to DEP, as well as using Apple Configurator (=supervised). See here:
http://apple.stackexchange.com/questions/105090/converting-unmanaged-to-managed- devices-in-ios-7-ota
This is beyond my grasp why, since in both cases you as admin have a decent control over the device, including remote wipe! But it has some nasty practical differences as well: you cannot rename an "unsupervised" device under PM. All in all very badly designed and developed product, but that is what you get for 20 bucks.
Best.