It'll certainly function like that, I'm sure.
However, if it was my site, I'd do whatever is necessary to make sure register_globals and Joomla!'s 'register globals emulation' are off.
I'm not an expert on these things, but I've read volumes on the security forums here and elsewhere, and it seems that a huge percentage of all potential exploits can be stopped in their tracks if this setting is off. It can cause some compatibility issues with some software as I understand it, though I have to say I have no experience of this - nothing I've tried to use has required rg = on, and I've played with plenty. In addition, again as I understand it, it seems to me that any extensions etc. which do require this setting are probably not exactly masterpieces of php coding, and may be best avoided anyway...
I'd find a way to make sure it's off. if it's the 'register globals emulation' then I'm not sure what's up (still have most of my site's on 1.0.12, but as far as I can see those settings you list should do the job on 1.0.13), but if it's php's register_globals setting you'll be needing to do something somewhere with either php.ini file(s) or .htaccess, depending on your environment. sorry I can't be more specific on that. follow the links - here's another good one
http://forum.joomla.org/index.php/topic,75990.0.html There are a million discussions of this topic on these boards (almost literally)!
good luck!
Simon
