That is my understanding as well. Press and hold either button, and it goes off. Hit either button, and it comes on at 7. Once on, pressing 'down' as many times as you want will result in going go down to 1, but not "off". So at the bottom (setting 1), your first press "up" is setting (or count) 2.
I'm mostly interested in setting 8, as I'm coming to find 8 usable in almost all lighting conditions I've tried so far. I'd like to see at least two months on setting 8, in which case I'd cut that in half to be safe and change the battery after the same monthly match. That should give me some use on 9 if need be, with a bit of time to spare, or at least that's my hope. If so, I can live with that, because it's easy and repeatable. If it gets less than two months on 8, then my half-life safety buffer puts me at random replacement times, and I'm not crazy about babysitting my carry gun that much.
If you have a fresh battery, drop one in before you go and set it on 9 to get a free week. I have a feeling 8 will last longer than most are willing to 'set it and forget it' in the name of science, at least it is for me and my single unit.