Your analysis is correct!  Though I think one thing that is little-known is that there is a long term vision to extend the Gold Line all the way to the Coors brewery in Golden.  In fact, RTD already owns the needed ROW to 9th and Ford in Golden, but construction of that extension isn't funded as part of Fastracks.  In that sense, the G-line could ultimately be the true "Golden line" since the W-line ends at the Jeffco County Taj Mahal on the outskirts of town and doesn't actually serve Golden-proper.

Also, just as a bit of history which is probably way to cerebral for most people to think about in their daily lives, the "Gold Line" is actually a reference to the Arvada site where gold was first found in the Denver area - it is not meant to be a reference to the City of Golden.

Also, the G line does not go to Westminster.  That's the B line.