That is a pretty good general explanation .
Depending on the steel,you can get Martensite or Bainite by that slow cooling. The difference is not a big one to most makers (many wouldn't know which they had,anyway).The big thing that is a real plus in quenching to 900 and slowly cooling to 450 is that you can do most anything you want to the blade in that state. Bend it straight, twist it to remove warp, Whack it on the anvil. whatever - it is very pliable until the Ms point and can be manipulated up to the Mf point.
Stacy