You have it correct. I haven't leveled my Shaman up through those levels in years, but I recently leveled up a Ranger and asked basically the same question, only to have several people confirm the caps:
https://www.project1999.com/forums/s...d.php?t=285377
Really though, as a Shaman if you're relying on melee damage there's a very good chance you're doing it wrong.