Yup, and add to that insulating sleeve around the metal flue.  The fireplace by itself won't add much net heat to the house (too much draft), but a good wood stove (including the type that inserts into the fireplace) is wonderful to have, especially when the grid is unreliable...
We purchased a new high efficiency soapstone wood stove model this year.  Uses secondary air.  My guess is this is a combination gasification (reduced primary air) and mixing air with gases to complete combustion. We use less wood and find more uniform heat in our home.  I know high efficiency stoves are all that are allowed to be sold (at least here) but I'm very impressed that they indeed do as advertized.