You generally have it. But the 7-levels may not particularly work well for the Eukaryotes (unless you make your own modifications), which is why we provide other file versions with the full taxonomy strings. 
But one point of clarification, usually a member of the QIIME team downloads the raw data from SILVA, and carries out the formatting pipeline as outlined in the Silva_132_notes.txt file. After this is completed, we work with SILVA to make these files available to the community. 
Also, to give proper credit the parse_to_7_taxa_levels.py was written by @William 
In the post I linked / referred to earlier, we think we have a way of alleviating these taxonomy issues, mainly those dealing with the Eukaryotes.
We are currently discussing the best short-term and long-term way to fix this. But we would welcome any input on this. 
-Mike