Yes, Paleo, you are exactly correct. Once you "get it", it is very easy to play, even at a pretty good tempo.
This comes from viewing the guitar more like a keyboard player views chord voicings. I always try to find chord inversion sequences that allow one or two of the voices to move in half steps wherever possible. Leaving out the bass root note often makes the chord shape a bit harder to "see" and also sound more ambiguous, but that's the beauty of its sound. The 4 note E shape fingering I show is much more commonly used in jazz than in blues, but once you become comfortable with fingering it (no barre!!!) it is a quick grab and being sparser than the full barre chord, is more useful. Then leave out the bass note, and you have a true little chord.
Learning to think like a keyboard player opens up lots of neat things on guitar.