Hello Chuck,
No, it does not, but we are so close. We are still missing a few big features such as campaign drafts and experiments, customer match lists (whitelisted only feature), and batch jobs (code is out, but not enabled for use). There are also a few reporting fields missing. To keep up with what is there and what is not for parity, please check out our two guides that map the two APIs:
There are some people who are fully migrated because all the features they need are there. We also add updates to our
Ads API Blog whenever there is a release, so you can subscribe to that as well to keep updated if you are waiting for something specific.
Take care,