Yep, that the way to do it. I have an older buddy that can do that from start to finish in 47 seconds. I have timed him before. Takes me a bit longer.
For the rabbits.
To get the guts out of a fresh killed bunny, hold it with both hands wrapped around it with the head up. Begin squeezing with your hands like you were wringing out a rag and work your hands towards the back end of the rabbit. All the innards will be pushed towards the rear end. When you get near the hips, raise the rabbit above your shoulder like you would an axe and swing towards the ground real fast and brace your forearms on your knees to stop the swing. All the innards will come out the back end and then you have a much lighter rabbit to carry that will not spoil and stiffen up due to having the guts inside to long. This works very well and then all you have to do when at home is take the hide off which comes off easy anyway.
Rob