Correct. The only thing that putting it in standby/off does is turn off the front lights and cut the video/audio outputs and tells the box it can run background processes now. That's it. It does not use any less power (that would matter) unless running those LEDs on the front is a huge power hog.
One of these days I will stick an amp meter on the thing and take several readings during the course of a day or two. Wish I had access to a recording amp meter.