I happened to be working as a Projectionist around the time 3D and Digital Projection began to really take off, and yeah... pretty much this.

[EDIT] Damn those early digital projectors were cool, basically huge light-bulbs wired up to a Centos box with some weirdo DRM shit baked-in. We would receive movies on ordinary hard-drives and plug them in to a central server rack to be ingested and then distributed out to each of the projectors. Pretty often in those days it would simply take too long to ingest and transfer to a screen, so we'd have to cancel early showings of new movies.