[machine_coffee]

Wouldn't say so.

An iterative model which has been up-front loaded with a firm architecture, feature elaboration, a rough development and testing plan, resources allocated and some basic milestones to hit so that upper mgmt. can get an idea when useful stuff might land.

The development _process_ can be as agile-y as you like, so long as the development of features moves incrementally with each iteration towards the desired end-goal.

But you have to be strict about scope.