Yes, that is correct. I use both.
Keep in mind(it took me a bit to grasp it muself), LR doesn't store the actual files. It creates previews/thumbnails you can call it of the file with a marker of where your actual file is stored.
For example, if you have your photographs stored on an external drive, and that at one point before "imported" those images(meaning LR made a copy of the images and marked the location where the photographs sit).... If you started your computer without the external drive, LR would still have a preview of the image in a folder you browsing to. Once you try and Develop that thumbnail, it will not pull up the image, as it isn't available without your external drive. The actual file is on the drive. If you knew this...great, but the way you asked, I thought it might help clarify.
So...
I *sometimes shoot via C1, or edit via C1. When I process it, and have it go to a specific Output folder, I then need to organize the files. So LR is up, and via Import, I browse to the folder I just output to, and I see the images in the folder. I can select all and Import them(make a preview copy) to my main database. So when I do the Output from C1 I select TIF, and LR will not alter it one bit. LR is a COMPLETE nondestructive workflow. (I wish you could have the option to finalize specific the Spot Removals, but that's another story). So it will NOT convert it to its own anything (There is no LR format), as LR doesn't covert anything (Maybe DNG and what it can export). So once that "cooked" C1 file is in LR, you can actually further develop on the file or just use LR to launch to go to Nik, or PShop, etc, etc. *Reason I use C1 is the raw editing. It has finer control and the results I get are better to me.
LR is really a control gate to your images, with the developing addition that can at anytime be reset....among many other things like printing features, and Exporting file types, and then there is the collection and organizing which I have got into more so lately, but, very powerful stuff there.
For me LR has gotten to the threshold of its speed. The sliders are not so accurate, the lags I experience sometimes are not usually horrible, but on the verge of....So I like working in C1 Sessions as the workload of ONLY developing is fast, and responsive. The larger the LR database grows the more you see the application fall apart of trying to do 2 majorly different things under one roof.
Another huge advantage of C1 is the full control of dual screen. LR locks you in to working in a specific way and you're treated like some kid who doesn't know how to take training wheels off, and C1 doesn't lock you down. You can move tool panels around and customize your workflow and process.
Having said all the negative stuff about LR is a bit rough, as it is a GREAT application and if you keep your database under 175K images(I split mine up) Its smoother..still the hard to control and jumpy increment sliders I really hope they improve, but you work around them with the direct # input or the little arrows that come up(they are little help as they are placed above the direct # input and you have to be precise as a surgeon to make the right adjustment. (*It would be cool if a "wheel" would pop up to show a scale of incremental adjustment that is super fine tuned.)
Anyway, hope this helps.
