The Dark Lord of the Sith
It would seem that you are. But there is still one point I would like discussed.
Pixel size matters when it comes to the final quality of the image. A 10MP sensor on a P&S will produce a picture with much more noise than a 10MP pixel on a full-frame camera. The reason is this: Smaller sensors have the same number of pixels crammed in a smaller area. This means the pixels are smaller. Larger pixels produce images with much less noise.
So while technically exposure does not depend upon the sensor size, in the context of available equipment, it does become a factor.
f/2 on a P&S may produce brighter images than f/3.5 on a DSLR (APS-C or full frame). But the low light performance of the P&S will be poorer than that of the DSLR for precisely the reason explained above.