Do I have to be online for him playing "my" Ryse?
Does he have to be online for me playing "his" Forza?

Sony has stated that it's business as per the PS3, nothing has changed.

With physical copies... yes. 

Lol at the haters, keep on hating I guess even when it's clear as water some people don't understand. Maybe it's because they don't like xbox ;)

Or maybe it's because none of us know how this specifically works exactly. 

No.  

As to the rest of it, as one poster mentioned Superchunk is seeing the same information as the rest of us and interpreting it differently.

So far we have one MS source saying definitively that you can play your physical copy of the game whilst one of the 10 people you share with also plays the same game.  All after purchasing one copy between you.  But, Superchunk is correct in pointing out that other MS sources use wording that could go either way.

As such, just as Sony uses ambiguous wording that implies its quite possible DRM will be equivelant for third parties to the Xbox ONE system, Microsoft has used ambiguous wording here, and we'll have to wait and see.

But your scenario is definitely accurate, and you do not need to be online for it to work.

This is rocket science!

Another thread just confirmed that the same games can be played at the same time. All this confusion comes from people who do not think or they are doing it just for trolling.

what is so confusing? if you have some games, your friends or whoever can play them from their xbox if they are in your to 10 people limited xbox family group.

they can do that all at the same time but it has to be different games.

if you have all your  friends living in the same street, the old model is probably better for you. if you aren't 15 anymore and a lot of your friends and family members live anywhere else in your country (or if you want to put some vgc guys in your list), the new system sounds at least for game sharing between some people you know not that bad.

as example, if someone would like to have me in his family list and it would already work this gen, he could play around 100 retail games i have here at home.

this will obviously only work as long as the person owns the game. you can't play the games someone had once but sold already lol. it will probably also not work with arcade games and dlc for the games.

like i already said a week or so ago, in my case it is a really great option for the people i will put in my list since my brothers live over 500k away and most of my friends live also in different cities because of the job and because i moved to where i live now. 

The feature is really awesome! The second best thing about the Xbox 1 after Halo.