I don't think you're too far from the truth. I was talking to a co-worker the other day and he said that Fox is like the National Inquirer. Sounds like a DNC talking point to me.
I don't consider Fox to be really conservative. Its just that in contrast to CNN-Pravda, et. al., they seem that way.
I do wish that they hadn't picked up Rivera. He really takes a great deal of credibility away from the network. And yes, they do seem to lack in the international reporting area.