Is my Child Theme creation for 2010 right?

Hi,
This is how I have just created a child theme without much technical knowledge. Is this process ok?
I have copied all of these files …
1. style.css
2. sidebar.php
3. header.php
4. footer.php
5. single.php
And created similar files in child theme folder and pasted in them in respective folders and activated child theme. Finally updated my WP to 3.1.1. All my customisations are alive. Shall I understand that the trick worked! Does copying entire files to child theme create any problems in the future? It is not showing any errors till now.
Regards