Absolutely! Seems pretty simple to look at and becomes very powerful when you fully comprehend it!

Ok, let's drill a little bit deeper to where my knowledge gets thin.
If you agree with this table:
the 1 is A
the b3 is B (because the 3 is C)
and the 5 is E
So 1 - b3 - 5 for the Am chord is A - B - E
But this doesn't look right to me.