Correct! It may seem like a lot up front, but the exploding dice quickly whittle those numbers down.
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You answered my question about HP = d6 * IRON. ;) When I read the rules I had the same question. For exploding dice the rules infer that only happens one time. So if I shoot with a gun that does 1d8 and I roll an 8 I roll an addition 1d8. The rules do NOT mention that extra dice exploding. ;) So the way I read it they only explode once. Is that correct?