You are correct. Shooting through a unit (either friendly or enemy) grants a 4+ cover save.
Whether or not that is a good tactical decision comes down to the game in question. If your opponent is in cover anyways, throwing a unit in between doesn't give them an added advantage, but does give you one. If your enemy is in the open, you need to weigh the advantages vs the disadvantages.
Also, remember, you can take a cover save or armor save, not both. So, if you're shooting SM, they'll have a 3+ armor save and won't gain any advantage from you giving them a 4+ cover unless you're using AP3 or better.
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