Yes it is. I copied both versions but forgot to specify the second is in 2.7.

This is read in the current (2.7) documentation:
# from: http://docs.python.org/library/functions.html?highlight=xrange#xrange
islice(count(start, step), (stop-start+step-1)//step)

and test_xrange.py shows the output of this code against range(). The code includes 2 samples of parameters which gives the unexpected results.