Windows 2003 to 2012 -- AD migration ?

http://blogs.technet.com/b/canitpro/archive/2014/04/02/step-by-step-active-directory-migration-from-windows-server-2003-to-windows-server-2012.aspx
acts like the below is basically what happens.

Is this correct ?
-----------------------------------------------------
STEPS
 1. install new Windows Server 2012 STANDARD
    64bit server in current domain

 2. wait for current Windows Server 2003 STANDARD
    32bit server in current domain to replicate
    accounts and groups to new 2012 server

 3. remove old 2003 server from domain

 4. test 2012 fileserver fileLevel security
    to make sure users still have the same
    permissions (files look like they are
    on the local server, but they are actually
    on my EqualLogic SAN
finance_teacherAsked:
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Seth SimmonsSr. Systems AdministratorCommented:
between steps 1 and 2, need to install active directory domain services role and promote to domain controller
it will do adprep requirements automatically

between steps 2 and 3, need to transfer fsmo roles as mentioned in the article you cited
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