Pretty much correct in everything IIRC. Not as powerful as Germany in 1938 but it would have give them a bloody nose and more than a match for Poland.
In 1938 they have four motorized divisions and two fast divisions (their equivalents to Panzer divisions). In WW they have began construction of the Lt-35(1) so their tank force is very well equip by this world standards. Their main problem IMHO is the one of ethnicity, with only a small percentage of their officers and NCO's being from Slovak origin historically and I can't see why here it could be a problem also.
Maybe get in touch with some Slovak secessionists, perhaps.
(1) the powerful tank now being constructed by the Dutch and the Czechs.