Yep - that is how I do it. I've found it helpful in that way. There are some other lexical/word-study sources I use, but those are the main ones: a lexicon and a theological lexicon. If I really feel the need to go deeper, I begin using lexicons of the cognate languages cited in the HALOT and NIDOTTE entries (e.g., Akkadian, Aramaic, Ge'ez, Ugaritic, Arabic, etc.), but I rarely find myself doing that. Hope that helps!