Min maxing is far more intricate than that. It involves conscious spending of points in a clever way, of course, but the true art of Min/Maxing is that of opportunity cost. You try and focus your character in such a way that you make his strengths very strong and his weaknesses very weak, then you put him in situations where his strengths come into play a lot, but his weaknesses are rarely an issue.
For instance, in D&D, a min-maxed wizard will have a very high intelligence, making is spells extremely powerful, but will have another stat that is very weak (say, charisma) that doesn't come into play very often. He casts spells all the time, but he doesn't often have to try and persuade people to believe him. It is more complex than this, of course, but that's a basic example.
Min/Maxing has a poor reputation in gaming, especially amongst those who try to pretend it isn't 'realistic.' That, of course, is a foolish belief. In real life, we min/max ourselves to the greatest of our abilities. Don't let SE chastise you for it, however--he's the only guy I've ever met who's as good at Min/maxing as I am.