Yup, spot-on. OHMSS had the closest thing to an unmolested Fleming story, had a fantastic score, and happened to be one of the best Fleming original stories, at that. Unfortunately, it made no sense how Blofeld didn't recognize Bond, since the movie producers swapped the order of OHMSS and You Only Live Twice (nevermind trashing the original YOLT story). Originally, SPECTRE was part of a three-story arc (Thunderball-->OHMSS-->YOLT), but that disappeared due to From Russia With Love using SPECTRE as the villain instead of SMERSH (for political reasons, one assumes). That said, if you can accept the SMERSH/SPECTRE swap, FRWL is is a pretty good take on Fleming's idea of 007, too.
The new Casino Royale actually did a pretty good job, but the movie would have been far better if they'd kept Fleming's original ending (Vesper commits suicide in the middle of the night at a seaside hotel, leaving Bond a suicide note explaining her double-cross), rather than turning it into crazy action hysterics with sinking Venetian buildings/gunfights etc.
I'm still holding out for a proper Moonraker movie, though--using the book's plot--including the chapter-long side story where Bond and M play bridge (no joke!)