Basically, yes.
Most folks just rebarrel with a complete assembly. Barrel, Front Sight Base, Barrel Nut, Gas Tube and Handguards. The Front Sight Base can be a pain to remove and if you have a muzzle brake welded on a post ban rifle you will have to cut it off just to remove the front sight base.
At the same time you will have to purchase an action block, vise, armorers tool, torque wrench and need other miscelanious tools. I've found it cheaper to pay someone a few bucks to have them do it. It's a pretty simple and straight forward procedure.
Or do like lots of folks, either buy a new upper or trade your old for a 16" upper.
Ohh..and if you want an EXTREMELY nice looking M4 type barrel, Rock River makes one that is 16" long total with fake birdcage type supressor for post ban rifles. I had one and it was very nice.
They run about $185.00 complete. If you check with Pete in NH he will also rebarrel your old upper for a very reasonable fee.
Good Shooting
RED