That's pretty much it, yes. It also displays error messages as GUI windows instead of only on the command line (which might not be visible) and keeps the game from creating a visible folder in the user's home directory, which on Windows is fine but on Linux is a no-no. Saves live in Xenonaut's own WINE directory with this script, not quite where they might belong either but I don't really see you to implement proper UNIX-style settings folders while using WINE as a wrapper.
There's a small caveat though: Existing save files will not be found and have to be moved manually.