You are right on. That's exactly what I do when I play mine.

By the way, slinging your axe too low is a sure way to end up with carpal tunnel syndrome as it forces you to play with your left (assuming you're right-handed) wrist bent to an unnatural angle. Try to keep the wrist as straight as you can. (Take it from an old guy. It may not look as cool, but at least you wont' end up with surgery.)

BTW, nothing looks cooler than a guy in a kilt playing guitar, even an old guy!

Heck, nothing looks cooler than a guy in a kilt, period. But the guitar always draws chicks.