Yeah. A scale factor of 1 should be full non-retina resolution, but that will still look pretty pixelated on older iPhones–their resolution is a pretty abysmal 320 x 480.
It’s a bit of quirk in the way Apple handled “Retina” resolutions without breaking all the interfaces for non-Retina apps/devices. The screen coordinates are consistent (in “points”), but Retina devices have a scale factor of 2 for their full pixel resolution. I think the newer iPhone 6 models actually have a scale factor of 3 now, but I haven’t actually used one yet.