All is right. You purchased one copy and one copy alone of the pattern. Thus, you can't make additional copies for others, although it's considered "fair use" if you make yourself an archive copy or copies for your own paper piecing purposes, etc. Under a rule called "The First Sale doctrine, though" you can sell or give away that one copy of the pattern that you bought. But selling or giving away the pattern means you can't keep copies of it, even the archive you made, etc.
As far as quilts go, quilts are considered utilitarian goods, and utilitarian goods aren't copyrightable. The quilts you make in general with the pattern are yours. You can press against some grey area, though with art quilts. Sometimes they can be copyrightable. So it's best to try and abide by the rules that the pattern designer set forth....although sometimes the stipulations are completely unenforceable and are beyond the pale unreasonable, like stipulating that you can only make one quilt with their pattern and you have to rebuy the pattern for each additional quilt you make. That would never hold up in any copyright court.