Yes you are correct. For all intent and purposes, it is a 3840x2160 display.
I connected an HDMI cable from my PC graphics card to the TV and it is fantastic, except for the 30Hz (30 fps) updating. FYI, most of the 4K displays will be limited to 30 frames per second until the HDMI 2.0 spec is finalized and integrated into the displays. So it isn't so good for first person shooter games that typically require a 60 fps or higher display rate. However it is really nice for typical work in Windows.
If you're considering using one as a PC display, I would suggest you check out the 39" 4K display from Seiki, model number SE39UY04. Amazon currently has it for $399. The 50" would be too big to sit right in front of and work on for extended periods of time in my opinion. It would be like watching a tennis match. :-)
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