Well, slightly powered up on the whole, yes. Druids actually lost some abilities; really, they just lost part of one, but it's a big hit. Wild Shape doesn't grant the physical ability scores of the new form, just a size bonus/penalty to Strength and Dex, so it's no longer possible to drop all three to 8 and get massive boosts to them for free.
Wizards and Clerics got a very minor power boost, but again, lost access to all of the supplemental spells (assuming those books are not available, which they wouldn't be in my game). The remaining classes got power boosts that leave them roughly even with the Cleric, Druid, and Wizard, so the classes mostly even out. At 1-2 and 18-20, things get wonky again, but 3.5's fair and balanced range was only 5-9, so it's a big improvement.