Yeh it sounds as if you have it right. 4/4 just means that you have an even count (in mainstream house music this is marked by the kickdrum) where you go '1,2,3,4,1,2,3,4' etc and the 1 is where it feels like the 'unit' or section of music starts.
A case in point is Nomad's '(I Wanna Give You)...