Pretty much what you described yeah. You can check the inheritance fairly easily by putting in a perfect ditto and an all 0 iv mon with ha to check for ha, iv inheritance, and tsv. The tsv's are different if you use Masuda Method. You don't need to note the time of the egg. The egg is essentially "locked" in regardless of what parents you use.
For example, I stick in my trusty 0 iv ha female magikarp with a flawless ditto. I save before I put the parents in. After generating an egg, I see that the the egg iv's are 0/2/0/31/31/0 with ha and the wildcard is in attack. You see where the female passes her stats and the male passes his. If I reset the game, I can exchange the parents with a female 31/ x/ 30/ x/ x/ 31 and a male with x/ x/ x/ 31/ 31/ x stats and get an offspring with 31/ 2/ 30/ 31/ 31/ 31~ a nice HP ice spread with HA
For example, I stick in my trusty 0 iv ha female magikarp with a flawless ditto. I save before I put the parents in. After generating an egg, I see that the the egg iv's are 0/2/0/31/31/0 with ha and the wildcard is in attack. You see where the female passes her stats and the male passes his. If I reset the game, I can exchange the parents with a female 31/ x/ 30/ x/ x/ 31 and a male with x/ x/ x/ 31/ 31/ x stats and get an offspring with 31/ 2/ 30/ 31/ 31/ 31~ a nice HP ice spread with HA
How do you do all that? Put in the parents, save, backup, pickup the egg (noting the time you started the game), find the TSV and such?