That is pretty much it. If you are using flash and you import your video in any format then publish it you should have four files total after publish.
you should have a
- .html file with the correct embed code that you'll copy and paste in the correct spot in your html page.
- .swf file that is the player controls
- .swf file that references the video
- .flv that is the actual compressed flash video file
All of those will need to be in your directory to play right. But when you embed the stuff you are acutally embedding the .sfw. This how it is done basically using flash cs3.
Hope that helps - reps appreciated. donations welcome.