All that is correct. The previous solar cycle 23 is very similar to solar cycle 20. They were both moderate peak cycles that were followed by very extended and wide minimum cycles. That means the winter of 77/78 corresponds to the same conditions of this 09/10 winter. The El Nino was also moderate during both of these winter periods. Where they will differ is this spring. The 77/78 El Nino faded for a few months and then came back. The 09/10 El Nino does not appear to have that unusual mid-term fade. That means that this 2010 spring will have more El Nino distributed moisture then the 1978 spring. Actually Cycle 23 to 24 minimum was longer then the the 20 to 21 minimum. So we are currently having one of the coldest solar springs occurring with a moderate El Nino. Might be first time in the era of satellites. Should be interesting to say the least. We have a blizzard for the Yankees coming later in the week, a snow storm currently for the Texans and a monster blizzard with the potential to be the strongest yet of the season hitting the Yankees as a Nor'easter early next week.
BTW - In between the two weaker cycles 20 and 23, solar cycles 21 and 22 both had strong maximums followed by very short minimums. Those cycles probably played a significant role in our warming toward the end of the last century.
FYI - Got that kinda wrong, should be the following.
Current late winter conditions include a snow storm for the Texans and a late week Nor'easter Blizzard for the Yankees. That storm has the potential to dump amounts rivaling the biggest storms this season.