Lots of handwringing over this lately on various forums and blogs, it seems.
I'd say no.
Is AD&D still AD&D without the beholder? The bard? The monk? Psionics? The same demihuman level limits? The same experience tables? The same combat tables? The classic contradictory rules (according to the DMG, magic armor is both weightless and half the weight of normal armor...)?
Not quite, no, but so what? The real problem here is the perceived need for OSRIC to somehow be exactly equivalent to AD&D to be a legitimate game and the implication that the two not being properly synonymous is a failing on OSRIC's part. When overly-aggressive simulacrum game detractors and overly-defensive simulacrum game boosters meet, the result isn't pretty.
OSRIC is fine for what it is: A quality, perpetually in-print free game in the AD&D mold that can be used as a vehicle to publish and sell works broadly compatible with AD&D without authors, artists, and publishers worrying about running afoul of the law.
You can focus on what it is (see previous paragraph) or what it's not (AD&D). The choice is yours. I would prefer to emphasize its considerable merits, but that's just me.
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