Hi there!
You got the meaning (you're right).
practiced prac‧
tised British English ;
practiced American English
1. someone who is practised in a particular job or skill is good at it because they have done it many times before:
a practised performer
practised in (doing) something
He was already well practiced in giving acceptance speeches.
to the practised eye (=to someone who has seen something many times and knows a lot about it)
Definition from the Longman Dictionary of Contemporary English
Well-practiced is skilled to the point of being considered experient.
Cheers!