Yes, you got it. Also, for more intelligent electrical outlets, switches you should download the ACE Electrigon 2.0 object. It is very versatile and intelligent.
http://www.earthstream.ca/2010/06/ace-elctrigon/
But it looks like they are re-vamping the website and several links are broken, including the Electrigon download. But you should definitely check back over the next few days and get it. It is excellent.
