Yes pretty much! I'm not full on the particulars, but have shared this with my Business Analysts working on the project to chime in, so maybe they can fill in on some high-level details.
Basically we are looking at SC to replace our current web analytics tool -- we want to observe visitor behavior to drive and understand their needs, behaviors, etc., which will in turn drive any changes or strategies for communicating to them -- via our website or via email. The usual.
SiteCatalyst, compared to the old one we are using, has integration capability with Eloqua, which we are excited about and hope to leverage, but we are also wanting to know some of the challenges anyone else has faced with it, as well.