No, most of the main issues are still there, not much in the way of fixing the original issues have been fixed. Some of the issues introduced after a few of the patches were released are fixed, but there is still little progress on fixing the script, AI, FM's, DM's, dynamic weather, clouds, Crossfire (or SLI), and other inaccuracies have been done. On the plus side, the game is capable of running on lesser systems now. While I'm not sure of the real minimum specs needed, it runs quite well (fps wise) on a mid system. Mine is a i7 920 @4.0 Ghz, 12 GB RAM, GTX 560 Ti w 2Gb.
Don't look at the original release videos either, the graphics qualities have been reduced from those standards (and probably why it runs better now).