Not quite - not far off, but not quite.
You'll need to disassemble the 360 to take the DVD-ROM out just the once to flash it with the iXtreme firmware. This can then be put back in the 360 which can then be permanently left alone if you so wish.
In the early days, you had to use the 360 DVD-ROM every time you wanted to back up and that meant disassembling the 360 and reflashing the firmware every time you needed to make an image - which was a pain in the arse, lol
As I say though, now that isn't required. If you purchase one of those Samsung PC DVD-ROM Drives (there are now several compatible models - a quick search on Google will reveal the exact model numbers) and install it in your PC, you can flash a 'Kreon' firmware to it. The latest version is v1.0 and this allows you to use one of those Samsung DVD-ROM drives to make straight images of a 360 or Xbox 1 disc as you would do with a PS2 disc when combined with the Xbox Backup Creator software (latest version 2.7).
All you then have to do is put the disc in, open XBC and hit the Start button. Select somewhere to save the image and it'll do its thing, ripping all the required sectors and images etc from the disc and spitting out a CloneCD Compatible '.DVD' image file at the end. This can then simply be burned to a blank DVD+R DL disc and played in the 360.
The Samsung drives are really cheap to buy and can be left in your PC, so you don't have to mess around disassebling the 360 all the time, or hotswapping discs, lol
- in fact, it doubles as a nice Region Free DVD-ROM Drive for your PC too so that's a nice bonus.
So in short:
- You only disassemble the 360 once to flash with the Xtreme firmware
- Purchase one of those Samsung DVD-ROM Drives and install in your PC
- Flash the Samsung DVD-ROM with the Kreon v1.0 firmware
- Download and install Xbox Backup Creator 2.7
- Download and Install CloneCD (latest version is preferable)
- Buy some blank DVD+R DL Discs and you're away