Correct, I've already sold a part of my free XPH because I think it will go much lower when the Fallback Method is ready.

Every Ark holder can access his free Phantom coins with the Ark or Phantom wallet, the Phantom wallet is easier because the Network is already configured, in the Ark wallet you have to setup a custom network.
If you have your Ark on your Ledger Nano S you have access to these XPH with the Ledger too - just use the Ark Ledger app. It's pretty cool that every Ark fork will have Ledger Nano S support right from the beginning.