That's pretty much it.
My recovery stance is about where the guy in that video is. I step forward from there to perform the squat and then push off my lead foot as I complete it, and recover to that position. Go as deep as you can without turning your hips to one side; they should stay squared up and facing forward at all times. My depth is basically top of the hip joint parallel to the ground. I either touch the ground lightly with my knee, or stop just short of it. Usually, to keep myself honest, I do a couple reps out of each set where I touch, and a couple where I come just short.