Yes, having ploughed my way through most of the WP this evening, that's about the sum of it. There's also lots more early intervention so children don't get to the point of 'cannot cope'. There's a raft of standards and guidance the resource bases would be able to draw down on and the idea is you don't have to wait for an EHCP and don't have the LA as a gatekeeper (which as we all know by the time it comes is often too late). The funding will be moved away from LAs and into the schools' core budget, over time.
There are some recourse methods set out in the WP as well if schools aren't doing what they are supposed to and it's also supposed to be inspected. Schools will have to publish much more detailed plans including how they are spending funding (as a governor I welcome this for accountability!), and some of this funding will be pooled to manage uneven needs across schools. There's a new additional attainment measure for CYP that start school behind their peers so schools can't just decide they won't count for Progress 8 and then not bother with them.
It's worth having a read. I'm cautiously optimistic on the mainstream related reforms but the LA commissioned special provision is still a bit opaque. They have thought a lot about incentives and oversight though which I'm pleased with and the closer relationship with ICBs should support some of that commissioning.
I think it's really natural to look for your own child in this but that's not really how the reforms will ever be set out (I can see that DC will be in the first transition year with their 16+ phase transfer...). If a child is in special in September 29 they will be able to stay there until the end of their education which I think a lot of people will find reassuring.