You are exactly right.
But even more important is the fact that the immanency of death (brought about by the death penalty) often leads to repentance and death bed conversions. This is one of the traditional reasons the Church approved of the death penalty.
Funny you should mention that, gbcdoj and were discussing that very same thing a few weeks ago, and I lost track of the thread.
I was saying, that this "No Death Penalty" campaign of the Bishops' is because they are secular humanists, that they are elevating the importance of this life above the spiritual, and not directing their attention to what they should be concerned with, saving SOULS.