It appears so. There are some features that you don't get (like dividing your backups into sets and giving them priority rankings), but it still looks solid. I'm still researching it, and just downloaded the 30 day trial.
It seems you can also make it work like Apple's "Time Machine", to have a local external drive with all your changes on it.
(Oh, the link is
Online Data Backup & Storage – CrashPlan – Free Backup Software, Disaster Recovery for anyone interested.)