Yes, it is the correct side. You are looking at the passenger side. The other knuckle has the 3 studs for the steering arm. Mounting the axle onto the vehicle is an option - I just have a little more room to work with it where its at.
Sounds like I'll be going into town today for a new impact wrench. I'm not sure that the one I have lasted even 3 uses before crapping out. It was a gift purchased at a well known purveyor of tools imported from the far east