Is the JP1 connector on the LilyPad Arduino Main Board a serial port or not?

I have purchased the LilyPad Arduino Main Board which has JP1 with 6 pins. I now see that most people purchase a converter to use USB from this connector.

Is it actually a Serial port and if so what is the pinout of the port. What is the speed that the serial port operates at as well.

Thanks.

It is a TTL Serial port usually used with an "FTDI Cable": FTDI Cable 5V - DEV-09718 - SparkFun Electronics

Pinout is:
1: Ground
2: "Clear to Send" (CTS) signal
3: Vcc (+5V)
4: TXD (Transmit Data)
5: RXD (Receive Data)
6: "Request to Send" (RTS) signal

The Arduino software knows the baud rate used by the bootloader. If you are using the serial port from your sketch you can choose the baud rate in your sketch,

It is NOT an RS232 Serial port so you can't connect it to a PC (9-pin) serial port without level shifters.

Thank you that answers the question.