Hi Michael, and welcome to the forum!
Yes, that is correct, and how I initially had my station set up. The console hangs on the wall in the kitchen and the Envoy on my desk, connected to the Mac with the data logger. I've since added a second console to use instead of the Envoy.
Once you figure out what you're getting, be sure to shop around for pricing. Archer Trading Post has great service and prices. Some say you can get further discounted prices by contacting them. (Davis is one of those companies that only allows certain advertised discount prices. Lower prices available on occasion or by request.)
http://www.archertradingpost.comAlso look at Rainman Weather, and be sure to request the emailed price. It makes a substantial difference! Both companies have fantastic reputations for customer service.
http://www.rainmanweather.comI've added Ambient because they carry a wide variety of stuff, but looking now, it seems they've joined the "email for best price" group.
www.ambientweather.comOnce you've emailed each company, you can bookmark the non-public "best price" page.
Example:
Davis #6316 Wireless Weather Envoy:
List: $195
Ambient: $175
Ambient emailed price: $136.89
Archer Trading Post: $175
Archer Trading Post emailed price: $127
Rainman Weather: $175
Rainman Weather emailed price: $125.97
Now, which Vantage Pro2 station are you going to get? You might have just saved enough to move up a model or two.

(we love spending other people's money.)
I hope that helps, and again, welcome!
Steve