Hey Toad!
You were pretty close! Here's a bit of info that should help explain.
The first letter or letters in the designation indicate the type or the class of the aircraft. "S" for Scout, "SB" for Scout Bomber, "T" for Torpedo, "F" for Fighter etc. The last letter in a designation is the manufacturer's code. "A" for Brewster, "F" for Grumman, "M" for General Motors...
Some types are not as obvious as others. Take a Transport aircraft for instance; the letter "T" is already used for Torpedo aircraft. So the code letter for a Transport bird would be "R". I don't know why it's "R" for Transports, but the guy who wrote the work that I used as a reference for this post guessed it was because "R" is the second letter in "Transport". If anyones knows otherwise, I'd like to know! LOL
If there's a number anywhere in the designation it has one of two meanings. If it's within the main body, say F4F, it means that the aircraft is the 4th major fighter design built by Grumman. ("F" being Grumman's manufacturer code letter) If the number is used as a suffix this indicates a sub-type, say SBD-1, which would be the first version or sub-type Scout Bomber built by Douglas.
SBD - Scout Bomber built by Douglas
F6F - 6th Fighter design built by Grumman
F6F-3 - Third sub-type of the 6th Fighter design built by Grumman
If you want a more complete reference, check out this web page:
http://rwebs.net/avhistory/acdesig/usnavy.htm
Fade to Black...