Yes, that is right…if you cleaned up the older windows installation this step becomes as involved as re-installing #Everything 
But if you happen to have the older windows installations still on site, then its as easy as it gets. I honestly expected the thing to take literally hours.
One thing I also wanted to mention was that I had to recompile both my master branch and project. For others using the binary release a validation of engine and project files through the launcher may be advisable.