At the moment, no it is not.
Will it be, yes, even Cutts himself has said it's changing.
But rest assured, the rules of the game are changing. You just have to follow the new rules.
There is a thread here in the forum, called, Is SEO Dead.
Every time Google releases an update, the rules change.
What you knew about SEO yesterday, has probably changed today. ( not literally in 24 hours ).
Stay informed, experiment, (not with client sites), find what works. Make sure it doesn't violate terms of service of the search engines. Put these tools in your SEO arsenal and go forth.
Here to Help, Nothing More.....
Good SEO isn't Cheap and Cheap SEO isn't Good !!