Nope, it has ribbon and the QAT (Quick Access Toolbar). And they changed it to the ribbon because they believed, based on their "studies" that it was a good design change. However, it seems they left a lot of users out of the decision process. I, personally, like it but there are a lot of others who don't.
In Access 2010 it gets better as you will have the ability to use a new feature for modifying the existing ribbons and then also access that via code.