In general do we say that:
If, for some given $x$, we get $y = 0/0$, it's a removable discontinuity.
If, for some given $x$, we get $y = a/0$ for $a \neq 0$, it's a vertical asymptote at that $x$.
If, for $x \to \infty$, we get $y = c$, then there is a horizontal asymptote at $y=c$.
Would you say this is correct so far? Am I missing anything?
Point 1 is not true in general, for point 2 the case is $f(x)=\frac{g(x)}{h(x)}$ with $h(x_0)=0$ and $g(x_0)\neq 0$ and x_0 cluster point, point 3 are correct.
Remember also the case for oblique asymptotes
with
$$m=\lim_{x\rightarrow+\infty}\frac{f(x)}{x}$$
and
$$n=\lim_{x\rightarrow+\infty} (f(x)-mx)$$
when both limit exist.