That's right Paul.
Here's a link to an example:
http://en.wikipedia.org/wiki/File:Crop_Factor.JPG
The Blue box shows what a crop body sees and the Red box, what a Full Frame body sees.
The f ratio is unchanged.
There's no real magnification taking place, it's just that a crop camera sees less field of view.
BTW I've edited the thread title to clarify the topic of the thread.