From a rules standpoint, no. From a "feel" standpoint, definitely.
Things I like about 1E that I also like about
4E:
1. Easy prep time - grab a module and play
2. Easy creation of monsters/npcs
3. Easy "on-the-fly" DMing
4. The above 3 help with: More emphasis on immersion
5. Points-of-Light
6. Hordes of humaoids
7. Potentially short life span for PCs - feeling of danger
8. Magic items feel fresh and unique and somewhat rare
9. More gradual PC power curve with levelling
10. Less emphasis on skills
11. Long "adventuring" days
I'm sure there are more, but those spring to mind.
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