(EDIT: I did this post before reading #17 above (Hi!) but fortunately I kept myself in the momentum space representation)
Ok, I sort of convinced myself. I was first looking a bit at
http://en.wikipedia.org/w/index.php?title=Bhabha_scattering&oldid=332559874 , a calculation for which I have sad rememberances when undergradute; but in any case it is not even needed. It is enough to understand than in a channel the 4-momentum is exchanged, in the other is accumulated. So in the former case the carries takes a 4-momentum which is a difference, in the later it carries a sum. Now it is only plain relativity: take ||E,p||=E^2-\sum p_i^2=m^2, wash, rinse, and repeat.
To be specific, consider a pair of four-momentum vectors (E_1,p_1), (E_2,p_2), with respective masses m_1, m_2. Both of them will fullfill the relativistic equation above. For simplicity you can choose a reference frame where p_1=(0,0,0), so E_1=m_1. But it is not compulsory.
Now, questions are: what can we tell of the "square mass" of the sum (E_1+E_2,p_1+p_2) and difference (E_1-E_2,p_1-p_2)? We are looking for the relativistic equivalent of "triangle inequalities". What we found just by applying the energy-momentum formula and knowing that E_i >= m_i, is that
M_+^2=|| (E_1+E_2,p_1+p_2)||^2 > (m_1+m_2)^2
M_ -^2=|| (E_1-E_2,p_1-p_2)||^2 < (m_1-m_2)^2
So:
- the s-channel (which is a sum) particle is
always time-like.
- the t-channel (which is a difference) is
mainly space-like, but it could have a small contribution from time-like exchanges. If the rest mass of the input and output particle is the same, then the channel is completely space-like.
This is for a vertex. As one interaction tree has at least two vertex, I guess that there are really two bounds in each channel, but on the other hand there is more kinematic in game.
Finally: why do we call "virtual" to the particles here? Because M_\pm^2 is fixed from the values of external 4-momentum (remember we are calculating the probability of having such and such outputs with such and such inputs, then all the external are given as premises of the calculation). So they do not coincide with the mass "m0" of the interaction carrier (zero mass for the photon, 91 GeV for a Z, etc). In some cases we can still think that each value of M can "live" during a time h/(M-m0)c^2, but it is more precise to use the propagator formula. Furthermore, one always want to take into account the interference between all the possible diagrams.