Pretty much.
Basically, with Ancestry, it gives you a list of matches that you can organise by date or by how closely related. You can search by surname, but I haven't had good luck with this.
It also gives you green leaf hints with other matches "this person appears to be in both your trees!" kind of stuff. I have got six green leaf hints out of 160 odd matches and one of those is complete hokey. Ancestry said it was a glitch but there's no option of "no, this hint is wrong, please remove it."
When you click into the profiles, it shows a snapshot of the person's tree (if they've attached it) and a box of "these surnames appear in both your trees". If you are like me with a myriad of Smith, Jones, Brown etc, these might not be hugely useful! It can point the finger however. There's also a tab for "Shared Matches". In my opinion this tab is a bit unreliable but once you've got matches appearing you can start to map out where certain people fall in your tree. For example, my mother's uncle also tested so if he appears as a shared match then I know that the person must be related via my mother's father and cuts out half the tree already. The aforementioned 3-4th cousin has five people in common with me and four of those I know the shared ancestor. Unfortunately that has only made me somewhat more convinced of a whoops child!
For ease of doing that, I bookmark (little gold star) everyone whose match I've confirmed. I have the actual links in a document. You can leave notes on the profile but I've never been sure who can see the notes you leave!
