Good brief on it, Zaffex! You are correct in how it works.
There are many components to the ILS system in total. There is various forms of runway and approach lighting, different kinds of ILS "approaches" which use different kinds of radio navigation tools, and different kinds of procedures to handle different kinds of "approaches" too.
The approach is also only one area of Instrument flight. There are "SID"s too. An instrument "approach" is called a "STAR", which means Standard Terminal ARrival procedure. A "SID" is a Standard Instrument Departure procedure. It would literally fill a book on how all this stuff works, and now with GPS and WAAS coming into the picture the ILS systems are changing, and becoming available at airports not formally equipped with what has traditionally been known as an "ILS".
When someone is referring to an ILS generically, they are generally referring to what is known as a "localizer" in conjunction with an on-airport "VOR" The VOR portion provides left-to-right guidance, while the "localizer" provides the vertical slope, or glide slope, information. So, when you are on a full "ILS" approach, you are really using two different radio signals to guide you down. There are other ways for finding the airport too. There are Ground Surviellance Radar approaches (widely used by the military in conjunction with a "GNC" officer), NDB approaches, which use the ADF radio (these are going away), and GPS now too. As I said... there are plenty of things I could write about here to explain all of it, but I'm not a CFI, and it would take a book, literally, to deal with the topic.
The thing to also know is that the ILS system is a term generally used to denote the entire range of Instrument approach and departure procedures colloquially, while flying an actual "ILS" is dealing with the two different, high precision, radio beams providing horizontal, and vertical navigation information. Oh, and yes, you can have an "ILS" that does not provide glide-slope information. In cases like that, the procedure is to use speed, and time from known points to plan decent rates so you end up where you are supposed to be.
Ok... I suspect this has totally confused many at this point... so I'll stop here.
