Yes. It's a superior touring front derailer for a couple of reasons. First, the distance between the inner and outer plate is wider than more expensive derailers. This means you can use more gears in the rear without chain rub. Secondly, the outer plate on all derailers have dentations pressed into them to make the outer plate stiffer. Expensive derailers have larger dentations pressed into them. This just narrows the distance between the plates further and makes set up without rubbing more difficult.

The XT front suffers from the same problem, although it's not as bad as the XTR front. I have an XTR on a mountain bike and it's the worst derailer I've ever had. It's nearly impossible to keep it from rubbing the chain.