That's pretty much it, yes.
You trust your calendar or diary to tell you accurately what appointments you have on what day because you have input them all. Gtd works in the same way. You input everything you need to do into the system, and then you just have to check to see what's next in the system.
Personally I found I had to adjust the gtd system quite a lot to suit the way I work, but as long you have a system and you input absolutely everything, it can work really well.
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