It certainly looks like it, most of the remotely "lefty" people in the cabinet have been moved off, and today Brown has finished appointing his junior ministers, some of which aren't even in the Labour Party, a few examples:
We've got Sir Ara Darzi, health minister. Admiral Sir Alan West, Home Office minister, Lord Stevens advisor for international issues. Lord Malloch Brown, Foreign Office minister for Asia, Africa and the UN. Lord Lester advising constitutional reform.
Best of all Sir Digby Jones, formally of the CBI now trade minister. Labour's Fightback has the scoop on this guy, who is rather well known among the labour movement - for all the wrong reasons.