3.0.3 Component Localization

[Mark Stang]

Hi,
I am using 3.0.3 and it appears that I must localize at the component level.  I 
have a single page and I can localize there for "page" specific stuff, however, 
when I try and localize at the component level it seems to require a 
.properties file for each component.  Is this true?

thanks,

Mark