You can also get up to $5K of a tax return as an I-bond, as well.
And yes, total return is where the focus should be.
For those that bought before 11/1, they are getting 9.62% for the next 6 month. Then they will get 6.89% for the next 6 months after that. This is why it was important to get your $10K purchased and cleared before 11/1.