Yeah pretty much except for one thing. I wouldn't try to keep self pollinating. I admit I am far less experienced in breeding than a lot of others on here, especially a member by the name of donpaul.p (check out his journal!)
But I was thinking more along the lines of:
Isolating the pollen from "Strain #1" through means of CS, using that pollen I would pollinate a female from "Strain #2"
This would result in the F1 seeds (unstable) for what we can call Strain #3.
Lets say we grow a big batch of these seeds and we analyze the wild types (phenos). Lets say we have phenotypes A,B,C,D,E.
Assuming A, and C are the better, more sought after cuts/phenos I would take a male from one, and a female from the other (or vice versa) and do regular polliation, not self-pollination.
And then the resulting F2 should be more stable, so on and so forth for F3, F4, etc...
Someone more experienced than I can correct me if I'm wrong, but that's the way I was looking at it.
For my KC's, I was planning on either doing stuff like that with the inbreeding, or just the method that toker69 is using to obtain the "feminized seeds", since I'm not really looking to create a new cross at the moment, rather just looking for more stable KC-45 seeds without having to purchase more.
Still need to give it all some more thought.