Yes! Windows Sharepoint Services makes updating sites and their content from the browser easier then ever.
Sharepoint includes tools that let you create custom lists, calendars, page views, etc. You can apply a theme; add List, Survey and Document Library Web Parts to a page; create personal views; change logos; connect Web Parts and more.
To fully customize your site, you can use Microsoft FrontPage 2003. Specifically, you can use FrontPage themes and shared borders, and also use FrontPage to create photo galleries and top ten lists, utilize standard usage reports, and integrate automatic Web content.