Your "the content" article tag should probably be an Aside.

Mark Pilgrim's Dive Into HTML5 recommends for Article tags:

The article element represents a component of a page that consists of a self-contained composition in a document, page, application, or site and that is intended to be independently distributable or reusable, e.g. in syndication. This could be a forum post, a magazine or newspaper article, a Web log entry, a user-submitted comment, an interactive widget or gadget, or any other independent item of content.

and for Aside tags:

The aside element represents a section of a page that consists of content that is tangentially related to the content around the aside element, and which could be considered separate from that content. Such sections are often represented as sidebars in printed typography. The element can be used for typographical effects like pull quotes or sidebars, for advertising, for groups of nav elements, and for other content that is considered separate from the main content of the page.

I believe ID="content" should probably be a section as you proposed.

In my opinion, he gives the best explanations for when and where each tag should be used.

Your "the content" article tag should probably be an Aside.

Mark Pilgrim's Dive Into HTML5 recommends for Article tags:

The article element represents a component of a page that consists of a self-contained composition in a document, page, application, or site and that is intended to be independently distributable or reusable, e.g. in syndication. This could be a forum post, a magazine or newspaper article, a Web log entry, a user-submitted comment, an interactive widget or gadget, or any other independent item of content.

and for Aside tags:

The aside element represents a section of a page that consists of content that is tangentially related to the content around the aside element, and which could be considered separate from that content. Such sections are often represented as sidebars in printed typography. The element can be used for typographical effects like pull quotes or sidebars, for advertising, for groups of nav elements, and for other content that is considered separate from the main content of the page.

I believe ID="content" should probably be a section as you proposed.

In my opinion, he gives the best explanations for when and where each tag should be used.