Deane:
Bang on. You also have the option of serving content dynamically in your web page from XML using Web Script, from CIFs, or through our native Java API, using any front-end delivery engine (if use JSP, Spring, or Struts - and potentially other Java-based web app frameworks, can also virtualize without having to set up separate server instances for preview purposes pointed to a mounted CIFS drive of individual sandboxes, which is the default config to support preview of PHP or .NET sites).
Content items can be uploaded directly from a web form and stored anywhere within a web project. You can have a repeating complex item, where a complex item can be defined as a link that has the following elements: title, summary, reference, alt tag, etc. You can choose to add multiple items via upload or browse and reference content already uploaded into your web project.
Let us know if there's any other questions.
Kevin