Jim,
You are correct. I know that I will never get pinhole images as sharp as what I can get with a lens. But I have seen some images that wre taken with pinholes that are amazing as long as the viewer takes their origin into consideration.
For Evrybody,
I have been working with some of the online pinhole calculators, But their are signifigant diffrences in the "optimal" pinhole diameter for each wavelength, given a constant focal length.