Your understanding is correct
I personally would use golden pipes, quartz (stone or cobblestone work too) and iron pipes from buildcraft and insertion pipes from thermal expansion, but there's other valid methods as well. The set-up is to have the interface connected to an iron pipe (it's a one-way type pipe, so make sure to wrench it so the clear side is where you want to send it) golden pipes speed up items as they go through, quartz/stone/cobblestone as your transporting pipe, and insertion pipe connected into your grinders. How the insertion pipes work is it will insert an item into an inventory in preference if possible, if not it will send it down the pipe network further. So this will create a sequencial loading. I recommend then connecting the pipes back around to the iron pipe to form a loop, or to have some sort of buffering inventory.
Something to keep in mind about this type of set-up is since AE isn't directly connected to the inventory, it can't tell the capacity or if it's full or not. This means if you request 1k iron, it will send all it needs to make the 1k at once. (thus the loop)