Yep, pretty much. Unfortunately the protocol's gotten fairly complex without standardisation to keep everyone on the same track. I do my best to simplify the text where I can, but a little more in-depth and correct is better than something simpler that doesn't match real-world implementations.

edit: With regards to encryption and backlog, they're being worked on in the IRCv3 WG, worth checking out if you're interested in changing the protocol for the better: http://ircv3.net