IS There only one god?

Hey. My impression is that, according to a biblical/Christian point of view (omitting any discussion of original Hebrew, etc.), a "god" is something elevated to a position to be worshipped. I don't have a Bible handy, so forgive any technical slip-ups, but Baal is a "god" of the OT. He is considered a deity, although according to the Bible he was no more than a human construct (demonstrated by the episode of Elijah/Baal's prophets and starting a fire with waterlogged wood).
As it relates to the 10 commandments, I believe christians see that particular command as forbidding the Israelites to elevate an object or idea to a position where they rely upon it instead of Yahweh. In short, I guess God was saying (according to modern Christians) to put their trust in him and not their own constructs. For instance, take the golden calf. Moses was on Sinai for so long that the people began to doubt God. (I think it was God they doubted, maybe it was the fact that Moses was God's messenger..I don't remember. In any case, they built the calf as a substitute for Yahweh, to be their "god," so it was forbidden. There is no implication for modern Christians that these "gods" were actual deities.
Does that make sense? I'm not trying to argue this position (although I do believe it), but I hope it did answer your question in light of Christian belief. A quick note is that the commandment is more accurately translated as, "you should have no other gods in my face."
Jake