Basically, in a nut shell.........exactly!
one thing you might discover as you shoot more and at further distance, is that your scope may not be exactly precisely
1/4 minute clicks. Only testing will say for sure.
One other thing (not to complicate things, but it's reality), if your scope moves the poi 1/4 inch
per click it will take 8 "minutes". However, if your scope moves poi 1/4 MOA
per click it will take 7.6 minutes (7.5 is as close as we can get with 1/4 moa corrections).
We have to subtract 5% if it's a true moa scope, because a true MOA is 5% bigger at 100 yds than an inch.........it's 1.0472 inches to be more precise, but 5% is easier to deal with.
Basically, that's the difference between IPHY (shooters moa) and true Angular MOA..........5%. Using IPHY is quicker and easier and generally gets us close enough untill we start dialing alot of clicks or the distance gets pretty far.