Mostly right.
Maya doesn't save an angle for the smoothing. It only saves a smooth or not-smooth, on-off, for an edge.
Depending on how much work needs to be done to a mesh, you may or may not need to unlock them. Unlocking can be done per vert so it can be done in a localized area. I find that in general setting up edge smoothing isn't terribly time-consuming to re-do.
--JeffD