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When the partner asks why I missed his deadline

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This has been asked very often, you could try searching for prior threads. Basically, it varies by firm.
Depends on the firm.
Some use one to refer to retired partners.
It widely varies by firm. Some firms use Of Counsel for part time attorneys or attorneys who essentially work almost entirely on origination. Other firms view the two synonymous.
As others have said, it varies. My firm uses “Counsel” for the stage between Senior Associate and NEP, “Of Counsel” for loosely affiliated attorneys, and “Senior Counsel” for retired partners.
But one of the matters I’m on bills me as “Of Counsel” since that is the closest option in the client’s billing procedures.
Where I am, counsel refers to some level of seniority above a senior associate and below a partner, though it may or may not mean the individual would be partner track at some point. Of counsel is for late career attorneys who may consult or provide expertise on certain types matters and who are unlikely to become partners (unless they really want to) because they are close to retirement.