Yes, pretty much! I like that take on it. I enjoy Obi-Wan being a sarcastic prick while sparring...Just as Dooku does later.
Interesting that you mention the Council in that specificity. The original script for this scene actually included extra lines pertaining to that:
Dooku: "The Viceroy of the Trade Federation was once in league with this Darth Sidious. But he was betrayed ten years ago by the Dark Lord. He came to me for help. He told me everything. The Jedi Council would not believe him. I tried many times to warn them but they wouldn't listen to me. Once they sensed the Dark Lord's presence, it would be too late. You must join me, Obi-Wan, and together we will destroy the Sith.