No, I am correct. the correct year is 1964, not 1978.
Quote:
Public Law 102-307, enacted on June 26, 1992, amended the 1976 Copyright Act to provide for automatic renewal of the term of copyrights secured between January 1, 1964, and December 31, 1977. Although the renewal term is automatically provided, the Copyright Office does not issue a renewal certificate for these works unless a renewal application and fee are received and registered in the Copyright Office.
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from:
http://www.copyright.gov/circs/circ1.html#hlc
It's too early for me to form a coherent argument, but I like the 28 year rule. The current system sucks.