That is how I basically understand it as well, but it is very unclear as to when a transaction will be charged a fee or not. The fee was 0.01 BTC, but recently dropped with the new client version 0.3.23 to 0.0005 BTC.
https://en.bitcoin.it/wiki/Changelog
https://en.bitcoin.it/wiki/Changelog
And a BIG Thank You for that link. I was looking all over the other day for an actual changelog and couldn't find squat
