The day before yesterday we did allmost nothing but Ikkyo the full two hours. I guess we did about 12 variations including to-sabaki, ken-tai-jo and ken-tai-ken variations (AFAIK something quite specific for Nishio-inspired aikido). A few weeks ago the same teacher gave a class where we did half the 3. kyu grading curriculum which is about 10 techniques - some of them in a few different variations. Other times we practice nothing but one attack and then different techniques in response to this.
For the first couple of years I just 'went along with it' and tried to enjoy myself and get a hold of how it's supposed to 'feel'. But lately I have had a few 'eye-openers' where I suddenly realise how some things are related - a bit like what Michael desribes in his post - I've had one with the concepts of Irimi and Tenkan, I've had one with Omote/ura, I've had a few regarding the practice with bokken, iaito and jo and I've had one regarding irmi-variations in shomenuchi (after a Shishiya seminar in Kiel
In my opinion these 'realisations' are part of what makes Aikido so great. At the same time things suddenly seem so utterly simple and yet so entirely complex. It's mindboggeling. I guess that's why I enjoy practice so much since each time I go to the dojo every little thing that bugs me from my everyday life is pushed out of my mind to leave space for all these wonderful new discorveries. And when I get back to reality, I have so much more energy to put into my life, chores and work.
Enough rambling. The answer to the orignal question is: Yes! That's pretty much the way it is - and no! It's never EXACTLY like that