Yes, that's correct. Exposure is all done in the Color tab unless its something very tricky, then I get into camera metadata settings and will adjust exposure and color temperature there and then move into the color tab.
I have played with LUT's ACE's and IDT, etc. but I have found these handcuff my ability to push the image in particular directions. I will on occasion apply the LUT to see what direction the image is heading, grab a still, and then remove the LUT and start from the beginning.
LUT's can be helpful when they are good and you don't have a lot of time, but ultimately I found these to be generic short cuts that tend to be missing or clipping information from the BIT depth.
Thanks,
Chris