Yes, that's correct. And it's not just watermarks that carry forward. This is all mentioned in the introduction part in the front of all Scott volumes.
got it now. I read and re-read the front, but I guess I was concentrating more on the bold 10 on page 16A describing the CHANGES IN BASIC SET INFORMATION instead of the bold 5, BASIC INFORMATION ON STAMP OR SET, which actually describes the methodology. Missed it more than once
Now I just have to find the part that describes Pref. 14, 14 1/2 vs 14 x 14 1/2. I know the later. Guessing that it means the stamp will be in either a 14 alll the way around or 14 1/2 all the way around.