Yep, that's about it. I only do a couple of things differently- one is that I add the grain a little at a time and stir well instead of adding it all at once. I found that when I added it all it once, I had big almost cooked doughballs that were a bugger to break up. So, I add the grain while stirring. Also, instead of one addition of sparge water, I often break it into two additions and don't bother with the mash-out. It's a little better efffiency for me.
Otherwise, yep. That's all there is to it! Pick your mash temp and thickness based on the style of beer you're making. 153 is a good temp for most styles, if you're not sure. Add hotter strike water to the MLT (to preheat it- believe me, it'll suck out about 8 degrees!) and let it drop to your strike temp (usually about 10 degrees warmer than your mash temp). So, I'd add 170 degree water and let it drop to 163 over about 10 minutes or so and then add the grain to hit my mash temp.
For the first time, keep some extra hot water handy, just in case you miss the temp. BUT....... wait a bit. Stir it well, give it a couple of minutes to equalize, then check the temp in about 4 different places. If it's too cold, you can add some boiling water to bring it up. Just do it slowly, and give it time to change temps. So many people on their first attempt add boiling water, don't wait a minute, and it's too hot so they add cold water, etc, back and forth. Just remember that if you're a few degrees off, it's easy to tweak- just go slow and easy.
I think Bobby_M's videos are better for learning AG, even though there was nothing wrong with that one. Take a look at his, and if you have any questions, make sure you ask- that's why we're here after all. Good luck!
http://www.youtube.com/watch?v=7jfrBUDpsmg&feature=PlayList&p=D200CB7DB97 0CD61&index=0