No, it doesn't. Especially since every time some American protestant church takes some goofy liberal position (example: ordains gays), some "Evangelical" freeper will say "Well that's just mainline protestants being corrupted by soecity again, our evagelical church down in Missouri would NEVER do that kinda stuff..."
Jimmy Carter, who is pro-abortion, pro-gay, etc., appears to be in fine standing with the southern baptist convention. He even teaches Sunday school. If Jimmy Carter is Evangelical, then Evangelical certainly isn't codewwork for "conservative, traditional protestants"
Though if Jimmy Carter and Harriet Miers are good examples of the "Evangelical" wing of Protestants, then I'm sure we have much to worry about them being "intolerant" of other faiths.
Jimmy Carter hasn’t been a member of the Southern Baptist Convention for years.