Mostly accurate. You should chase though - if you're getting the odds. If someone bets $10 into a $60 pot, I'm calling that with my nut flush draw all day long.

I think a better way to state that rule is:
Make them chase against the odds

And the matching rule is:
Chase if and only if you have correct pot odds

Basically that and good starting hands are the definition of ABC NL poker to me.