In theory, yes. Practically, it sucks.
Off topic: In fact, IMHO PowerDVD sucks big time for standard DVD playback, e.g. it refuses to work with ReClock, it cannot Zoom / Scale the picture, the Dolby ProLogic IIx decoder is broken, it is incredibly bloated. Unfortunately there isn't much choice for HD media, but for standard DVDs there are much better solutions.
Hmm I've not had a need for ReClock. I have found PowerDVD since version 6 or even 5 to be a good player, especially compared to other retail competitors like WinDVD, which always sucked for me. It does everything just pretty well, I think. I agree about the bloat though, and the constant trojan-horsing of several startup entries, which has grown to four in the last updates.