No you are not mistaken, thats right.
I decided to buy the parts, and do it myself with the help of my dad. aLOT cheaper that way, and we can be sure it's done properly.
The head was in good shape, so it only had 20 thou taken off. I planned on 60 thou to increase comp but decided that if it needs to be done again *finds a bit of wood to touch* there won't be any problems.