Basically yes but let me elaborate...

SmartProp 1- The creator has hard coded the prop to automatically smart parent itself to the figure. So you can pose the figure and apply the prop and it will automatically pop itself into position. Just make sure you have the figure selected when you apply the prop.
SmartProp 2- The creator has not hard coded the prop and you need to keep the figure in it's zero pose, apply the prop and smart parent it yourself...then pose the figure.

Conforming- You can have the figure in any pose, doesn't matter, bring the conforming item onto the stage, then conform it to the figure and it will pop onto the figure as it should. If you are working with P8 or P2010 you can just drag the conforming item from the library onto the figure and it will automatically conform for you.

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