That process only needs to be done once - after that you only do the part where you run DDMS - on down.
But, yeah, pretty much, unless you happen to have a really good camera to hold up to your phone....
I use DDMS whenever possible having added the path to the Android SDK to my PATH variable in Windows,I can run it directly from a cmd window or even from the run dialog, saving me lots of time looking for it / changing directories....
Once in, I simply grab the screen shot, then hit the copy button. I then use Paint.NET to edit the pic / save the pic in JPG format as the forums here have a limitation on the size of .PNGs
If you need help getting it set up let me know.