If you start out with a false premise, then, as far as implication is concerned, you are free to conclude anything. (This corresponds to the fact that, when $P$ is false, the implication $P \rightarrow Q$ is true no matter what $Q$ is.)
If you start out with a true premise, then the implication should be true only when the conclusion is also true. (This corresponds to the fact that, when $P$ is true, the truth of the implication is the same as the truth of $Q$.)
Your distinction between "true" and "logical value 1" is not one that formal logic generally observes. Here "1" and "true" are synonyms for the same concept.
The meaning of the $\Rightarrow$ connective is what its truth table says it is, neither more nor less -- the truth table defines the connective (in classical logic). Fancy words such as "implication" or "if ... then" are just mnemonics to help you remember what the truth table is, and what the connective is good for -- but when there's a conflict between your intuitive understanding of those words and the truth table, the truth table wins over the words.
The important thing to realize is that $\Rightarrow$ is designed to be used together with a $\forall$. If you try to understand its naked truth table it doesn't seem very motivated -- certainly it can't express any notions of cause and effect, because the truth values of $p$ and $q$ just are what they are in any given world. As long as we're only looking at one possible state of the world, there's not much intuitive meaning in asking "what if $p$ held?" because that implies a wish to consider a world where the truth value of $p$ were different.
The device of standard formal logic that allows us to speak about different worlds is quantifiers. What we want to say is something like
In every possible world where I put in a coin, the machine will spit out a soda.
(though that is a little simplified -- we want to consider a "possible world" to be one where I made a different decision about my coins, not to be one where the machine had inexplicably stopped working even though it does work now. But let's sweep that problem aside for now).
This is the same as saying
In every possible world period, it is true that either I don't put in a coin, or I get a soda.
which logically becomes, using the truth table
For all worlds $x$, the proposition (In world $x$ I put in a coin) $\Rightarrow$ (In world $x$ I get a soda) is true.
Since there's a quantification going on, the truth value of the whole thing is not spoiled by the fact that there are some possible worlds with a broken machine where the $\Rightarrow$ evaluates to true. What interests us is just whether the $\Rightarrow$ evaluates to true every time or not every time. As long as we're in the "not every time" context, the machine is broken, and that conclusion is not affected by the "spurious" local instances of $\Rightarrow$ evaluating to true in particular worlds.
The construction that models (more or less) our intuition about cause and effect (or "if ... then") is not really $\Rightarrow$, but the combination of $\forall\cdots\Rightarrow$.
Unfortunately in the usual style of mathematical prose it is often considered acceptable to leave the quantification implicit, but logically it is there nevertheless. (And to add insult to injury, many systems of formal logic will implicitly treat formulas with free variables as universally quantified too, so even there you get to be sloppy and not call attention to the fact that there's quantification going on.)
Note also that this is the case even in propositional logic where there are no explicit quantifiers at all. To claim that $P\to Q$ is logically valid is to say that in all valuations where $P$ is true, $Q$ will also be true -- there's a quantification built into the meta-logical concept of "logically valid".
Best Answer
No. Maybe a real-life example will help.
Consider: If it is raining, then it is cloudy. ($R \to C)$
This does not mean that rain causes cloudiness. It means only that it is now not the case that it is both raining and not cloudy.
$$R \to C~~\equiv ~~ \neg (R \land \neg C)$$
This definition is entirely consistent with the truth table for $R\to C$.
\begin{array}{cc|c@{}ccc@{}c} R&C&R&\rightarrow&C&\\\hline T&T& &T& &\\ T&F& &F& &\\ F&T& &T& &\\ F&F& &T& & \end{array}
As required of logical implication, if both $R$ and $R\to C$ are true (line 1 only), then $C$ must also be true. (The Detachment Rule, aka modus ponens)
Note that we can infer from this "definition" that the implication $R\to C$ is true if $R$ is false (lines 3, 4) or if $C$ is true (lines 1, 3).
Note that, in classic logic, there need not be any other logical relationship between the antecedent and consequent propositions. They may be entirely independent of each other.