You're correct, the Electoral College actually votes in the president. But each electoral member places there vote on what their state's people vote. Sometimes, like in the 2004 election, the majority vote and the electoral vote differs.
that doesn't matter much either. take California with (i think) 54 votes, if you had 49% of people voting republican but 51%democrat, dems would get all votes. it can offset popular/electoral votes if you also throw in other smaller states
