Yes, the description is right - I know because I did this at home and have some friends who still do. It worked fine most of the time, but there is a certain risk involved. Make sure you do not intend to receive something important because some other party may read it.
Also, nowadays sending from a dynamic IP is a lot of troubles. First of all, many recipeints do no longer accept mail from dynamic IP blocks - too much spam. Secondly, more and more ISPs are blocking desitination port 25 - to many viruses... Hasn't the Internet become a nice place.
I now recommend - if you can afford it - to rent a relatively cheap email account that allows you to retrieve and deliver via their servers - much less hassle...