Yes, you are correct. Mate the engine to the tranny. However if the tranny has ssome wigggle room, when lining up the bellhousing it may be easier to move the tranny a little, just depending. Watch yer fingers, that is a painful pinch.

One trick that makes re-joining them much much easier. I believe most of the bellhousing bolts are 17mm (m12s). get a handful of extras, and cut the heads off so you have studs that are maybe 2" long. Thread those suckers into the tranny side of the bellhousing so they stick out. You can them use them a guides to line up the engine, slip it into place, them pull each out and replace with a bolt.