Everything you stated is correct. Most people launch at Todd's Slot and take out at South Bank. If you are coming from Salida, might as well do a few laps or take out further downstream to lengthen the run. There is one rapid rated class IV, but in my opinion III/III+. The put in is a large, improved parking lot on your right if coming from Cottonwood pass about 4 or 5? miles below the reservoir. This is a good spot to scout the rapid, and then decide if you would like to launch above or below it. The rest is class III read and run. Nice scenery, easy bike shuttle, or hitching is possible too. Have fun!