That it is, but it's Hell to get around in anywhere near 'rush hour'. The town is just too linear North to South, with too few North/South arteries.
Back in '82 (hard to believe twenty two years ago!) you had I-35, Mopac and they were just completing the loop on the west side. I lived near the Travis/Williamson county line. "Pray for me....I drive 183".
I imagine the hippies have kept any good roads from being built since I was there.
But unless things have drastically changed, Austin's "traffic problem" was minuscule compared to Atlanta's.