Well, physics states that you are very much correct about velocity:
x = x + (v * Time)
And with acceleration, guess what, it's very similar. It's time squared.
x = x + (a * Time^2)
(That might not be the quite right equation. it's been a while since a physics class).
But "Ack!" you say. How does that work with my code?! And probably what I (and most everyone in my phys class was asking) "How the heck do you get time squared?" Well it ends up working out!
As it works, everything must be synced (as you know), and acceleration is no different.
v# = v# + (a# * Time)
Which all put together equals:
v# = v# + (a# * Time)
x# = x# + (v# * Time)
Which boils down to (if my brain is working correctly, I'm tired) YOU ARE ABSOLUTELY RIGHT! Looks like the same code I use for gravity (which is basically an acceleration of velocity in the downward direction

)
NOTE: Not sure I understand your delta time system and my mind is fizzled from working on Strata Works right now, but I use a system like this:
OldTime = Timer()
Do
FrameTime = Timer() - OldTime
sync
OldTime = Timer()
Loop
Just seems simpler to me and I haven't had probs with it yet, but hey, to each their own.
Good luck on your project!
Current Projects: Verious things right now. Lots of utils for game making. Hopefully something solid soon.
http://www.geocities.com/djpeterson83