I think so provided we're only talking about adding, editing and deleting content. It's also worth noting that UX has been receiving a huge amount of attention with the Drupal 7 release and is an ongoing topic of serious interest among module developers.

I had a hard time over at Drupal.com finding screens of the interface the client is presented with when editing and managing content.

As a rule, if the CMS puts you away from your page and to a list of "posts" to edit with TinyMCE, it's not modern. Atleast in my book.

I'm not sure what screen you're referring to. Perhaps the admin content list? Typically content producers will add content via the "add content" link/button (depends on your theme), edits are possible from any screen where the content is displayed.

Drupal supports a number of rich text editors, TinyMCE is only one of them.

Could you give me a screenshot of editing in a page where content is displayed? Didn't find one on their site.