Yep, basically. And before going further would recommend DLing the full version because there are key controls that the Audacity plug doesn’t show afaik.
So yeah, get a little stretch on yer sound - usually something tonal without a ton of big transients works well, although sometimes using dynamic stuff yields interesting artifacts (file under ‘experimental sound design’.)
Start w/ Harmonics so it’s tunable. You can go either 55 or 110 (Based on A = 440hz.) i usually do 110 because it gives you more room on either side to dial it in. Set the BW tight but not too tight, maybe around 40 or so - this can be dialed in further later.
Ok, so next you can either pitch shift down an octave or two or whatever as needed (make sure it’s an octave or multiple octaves otherwise your harmonic tuning is useless) - OR - you can use the Octave Mixer; the results are slightly different however, and using the octave mixer on low frequency material can get weird and phasy fast. IMHO the Octave Mixer is better for pads and higher freq material.
Ok, so NOW you’re about to throttle the shit out of this with the Filter. Freq1 should be no lower than 20, more like 30-40 realistically. Freq2 should be no higher than 200 [for a sub] and often lower, like anywhere from 80 to 125ish depending. Don’t use BandStop for a sub. Play w the DHF controls a little if you like, not required at this point.
The Tonal/Noise Control is deceptive because it you slide it all the way right you often lose all sound altogether. Try it at about 2/3 of the way to the right, with Bandwidth at about 1/3 to the left.
I usually use the Compress function too but go easy because setting it on high sometimes does bad funky things that can be subtle until dropped in a mix.