Hardware setup for Roon - Help an old guy out?

Yes, that is mostly correct. Roon doesn’t touch the music files. Tagging, at least the tagging you add via Roon, lives only in Roon’s library (dataset) which would be, in your example, on the laptop.

You can run Roon Core on a NAS, just not your current NAS. Do a forum search to find what NAS boxes people sucessfully run Roon