[thelist] css child and descendant selectors

Ok folks,
Carnival "weekend" here in my homeland, but while the rest of the country
cavorts away in reckless abandon, I'm hard at work.

Trying to get my head around the CSS "child" and "descendant" selectors.
Hypothetically of course, as I realise very few browsers actually get this
right.

Using this example:

<ol>
<li>child of 'ol'
<li>child of 'ol'
<ul>
<li>descendant of 'ol'; child of 'ul'
<li>descendant of 'ol'; child of 'ul'
</ul>
<li>child of 'ol'
</ol>

Therefore,
ol li {styles} should apply to all the li tags.
ol > li {styles} should apply only to the three marked 'child of ol'?


Am I right?

-marc