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I agree with Stew in that your current approach is the most common. I've had to migrate HTML sites several times and there are 3 basic approaches I've had to take...
1. If the site uses a lot of images with text in the actual images...
You better be good at typing because you're going to be doing a lot of transcribing.
2. If the site uses a lot of crappy table-based HTML...
Your best friends will become Firefox, Dreamweaver and the Ctrl+C and Ctrl+V keyboard shortcuts. This is the most common and can turn out great results, but it does take a lot of time. My prefered module for this is Smartsection, but modules like News and AMS work well too.
3. If the site makes extensive use of CSS and table-less design...
You've hit the jackpot! All you have to do is past the HTML contents between the body tags in a module like Smartsections and add the classes and ids into your style.css file and make the needed adjustments. You can import several hundred HTML pages this way in less than a day.
I wish I could say such migrations could be handled in an easy way, but they can't, regardless of what CMS you use.
I wish you luck and the patience of Job in your project.
HTH.
James
Insanity can be defined as "doing the same thing over and over and expecting different results."
Stupidity is not a crime. Therefore, you are free to go.