Concur your analysis. "The Stand" stands as probably the most exciting novel I've ever read. IMHO, Steven King peaked with this opus. I also read the updated version whilst lolling on the sands at Myrtle Beach in 1990.
The STand is actually a haunting piece of work. I have only seen the movie; it is perhaps the only good stephen king movie out there.
I want to read the book although I am reading dreamcatcher at the moment.
At certain points in the movie "the stand" i got the feeling king might have a few conservative feelings. The movie was somewhat anti-big brother in parts.