Getting Started with WORDPRESS

Hi everyone. For years I have created simple websites using onl;y html & CSS. But I am just begining to learn about WordPress. Sometimes reading everything here seems like information overload.
Please tell me if I understand correctly:

You need to get a host that offers MySQL & php compatibility.

You create a MySQL database.

You upload wordpress (with Fantastico if possible).

You log into wordpress & change your theme and add content.

These are the basics, right? Or is there anything important that I’m missing? Oh, and I assume that if you want to create a for profit website with adsense, then you need to buy a custom/premium theme, right? Beacause the themes I’m looking at don’t seem to be adsense ready.