yes that is correct, it actual makes more sense this way also as moving target even ones running directly at you are harder to hit then those standing in one place. You spend 2 of your 3 action to run at someone and gain a bonus to hit with your 3rd action. you don't get to attack with the charge anymore. it say just has to end in a square next to target. You have to spend another action to attack. it also no longer seems to function with pounce any more.
this also fixes issues with bull rushing and over running with charge, so they actually can function now with in the rules. before over running was impossible due to having to end next to target you could not keep moving before. Now both of these are simple actions that you can preform after you charge and get a bonus to use because you charged.
still not sure if it fixed all the mount combat issues but I think it does help them out.
Mostly I like the new system but every so often you run into a glitch. For example in our upcoming game one of my players is going to be a Warlord from Path of War. He wants to take the "Brave Gambit" that requires him to charge and attack to regain his Maneuvers.
Activating a Gambit is a Swift action that it'll cost 1 point with the new system. Charge is 2 points and that doesn't leave him with enough to actually attack anyone to get he maneuver back. I'm considering giving him a 1 point Half-Charge action to use with the Gambit.
The unanswered questions regarding numerous rules options and the awkward implementation of swift actions were the main reasons why I don't use the alternate action economy system. Some classes benefit immensely from using multiple swift actions in one round while others get really shafted by the swift actions they rely on every round eating an attack. :-/
That said, I personally like that they made charging easier to track. In my experience players tend to constantly forget to apply the -2 AC penalty until their next round. Overall I like a lot of what they did with the revised action economy, I just wish Stephen had gotten about 15 more pages to really flesh it out.