Yes but the Raspberry Pi is some what crippled from an I/O point of view. Of the 56 GPIO pins there are only 14 brought out to the header. There are a number of expansion boards in the pipe line but the "official one" in effect sticks an arduino on these pins and gives some port expansion. But this does not include I2C and will cost about £100, that is 4 times the price of the Pi itself.
On the main board there is no built in A/D and the drive on the 3V3 digital pins is some what minimal, so no driving LEDs at any great brightness without an expansion board. It looks like it will be more of a programmers system than a physical computing platform.
My Pi's delivery has been put back from the middle of April to the start of May. I was lucky and managed to get an order in on the first day but about 12 hours after the start.