You are correct
First off, lets get some things straight:
A roaming profile is one that a user can access from anywhere in your network, as compared to a local profile which is stored on individual computers, and their user settings cant follow them from computer to computer.
To create roaming profile, right-click the user that you want to have a roaming profile, go to properties. THen click the profile tab. In the profile path type the following:
\\Server\ShareName\%UserName%
Notice how "Server" is used instead of a local location(c:\folder).
Sharename refers to a shared folder that is on your server (where you are storing the profile). This folder must be shared!!! If it is not shared then the user account wont be able to access it when they try to log on.
Then the %username% entry: Its important to use the % on either side of the username. This will ensure that the folder is created properly and if you copy this account to be used for another user, they in turn get their own folder for their profile.
Whew! Hope that helps!