SMPTE syncing and MIDI TIME PIECE AV Question

[part12studios]

Hi everyone, so just as a sanity check. does the SMPTE OUT just constantly output a stripping audio signal while in "play" mode from a given DAW like DP 1.7 or 3.1 to record too.. and then any playback on said striping track if directed into the SMPTE IN and DP set to slave to smpte just know to start following whatever positional information is on the stripe?

I always imagined there might be something more involved to it, but never came across any obvious options and just got to thinking maybe it's that simple for that.

I'm looking to be using OMS (as well as FreeMIDI) but some of the software I'm experimenting with doesn't support FreeMIDI. I'm just trying to avoid having to buy an OPCODE interface if I can get the MTP AVx2 (networked) to "just work" with OMS based software as well as FreeMIDI.

Thanks!
Caleb