SF2 soundfont and volume panning?

[superfury]

I'm currently reading information about the generators used in the soundfonts.

I've read this:

17	pan This is the degree, in 0.1% units, to which the “dry” audio output of the note is 
positioned to the left or right output. A value of -50% or less indicates the signal is 
sent entirely to the left output and not sent to the right output; a value of +50% or 
more indicates the note is sent entirely to the right and not sent to the left. A value of 
zero places the signal centered between left and right. For example, a value of -250 
indicates that the signal is sent at 75% of full level to the left output and 25% of full 
level to the right output. 

The value of -250 indicate that the pan is at -25%, thus 25% is added to the left channel (which is at 50% at 0%, right channel is the same). The 25% added to the left channel is substracted from the right channel, ending up with 50%-25%=25% on the right channel?

So a value of -110 would have an effect:
left: 50%+11%=61%
right: 50%-11%=39%

And a value of 123 would have an effect:
left: 50%-12.3%=37.7%
right: 50%+12.3%=62.3%

So effectively summarized when applied in c: (the volume percentage is 50% for both left and right PCM streams)
1. Divide the number by 10 to get the percentage to apply.
2. Left volume = 50%-applied percentage
3. Right volume = 50%+applied percentage

Is this correct?

This would also mean that when the sound is moved left or right, humans would percieve it as the sound moving to the left of the person or to the right of the person in a wide circle, since our ears will still hear both sides (although with a different balance between left and right). When the sound moves to the right, the left ear will hear less gradually and the right ear will hear it more clearly gradually?