That's pretty much it. It's better if you do not soak the seeds. I use shallow rubbermaid containers with holes drilled in the bottom then put misting jets above them. I do this frequently so I have a complete setup for doing a few hundred pounds of seed at one time. For a small batch one could use 5 gallon buckets and pour the water/nutrients over the seed a few times a day, as long as you did not let the seed dry out.
Depending on the seed mixture I pre-germinated 3-5 days. I frequently get perennial rye to sprout within 48-72 hours of seeding, bluegrass takes about 6-8 days.