Aside from imposing some limitations on sectarian violence and denying the insurgents the ability to own (eg. Halafa Street), as opposed to bomb, the place, no, at least not sustainably.
To be fair on those involved, the expectation was always for a dip in attacks (which happened), followed by the insurgency re-grouping and adapting to what was going on. My guess would be the lull that ended about a week ago was due to the elimination of many (most?) of the bomb factories in Baghdad. The resumtion has been allowed by the re-location of these facilities to Diyala province north east of Bagdad, currently out of US control. The lag-time in re-starting production has been something akin to the delay the Soviets experienced when they re-located their heavy industry out of range of the Germans.
The plan is that once all 5 brigades are in place in June to launch a 2 or 3 brigade push into Diyala, the prep work can be seen in the operations in the area south and east of Baghdad.
At the end of the day, each side would appear to be counting on that as the decisive phase. The insurgency believe that if they cause enough casualties during that operation they can undermine what little political support exists for the war. The US thinks that, with Anbar and Baghdad no londer secure for the insurgency, they will be forced into a fight to the death. Both are potentially correct.