All ready vs. Already

Are all ready already to understand the difference between all ready and already?
Or should it be:
Are already all ready to understand the difference between all ready and already?

Well, the above is a mini-tongue twister, isn’t it?  These two seemingly simple words can wreck some serious havoc.  Let’s dig into the difference:

All ready:
All ready means ‘completely prepared’ and is a degree above the simple ‘prepared’.

For example: Mahesh is all ready for the presentation.
Is the cook ready? Is the waiter ready? Are you all ready?

Already
‘Already’ is an adverb that means ‘prior to a specified or implied time’ or ‘as early as now’.

For example:
It is already 10 past 6 and still there is no sign of Mahesh here.
After the accident, when they bought Mahesh home, he was already dead.  (already = since before then)