Yes, that's pretty much it. "Giclee" is a word that gets abused a lot - technically it actually referred to a very specific printer that was very high-end equipment, 15 or 20 years ago. That printer, and much of its technology, are pretty much obsolete now, but the name ended up becoming a generic term for a high-end inkjet print, sort of like when people say "making a xerox" for any kind of a photocopy. And of course, there are some people who use "giclee" to simply mean "inkjet print".
Unfortunately, it's tough to tell just by looking at a print whether it's truly archival or not. It's always good when an artist uses a term other than giclee, that specifies a little more about the actual process used. But generally, if it's an artist who's reasonably well known, you're at least fairly likely to be safe.
Hope that helps. It's great to be cautious, no one should get stuck with a poorly made print, but I know there are plenty of artists who sell on the con circuit who are doing well-made prints that won't fade in your lifetime, and you shouldn't have to be afraid to buy their prints!
