Unless Steve decides to let me choose my own SMS tone and not have the same tones go off 100 times in an office, then no.
This is one of the reasons that I've been satisfied with JB. Choosing a new e-mail tone (no SMS on my plan) is better than the default tone. SBSettings is pretty damn great as well. Apple is better than Android from what I've seen, but Apple just won't let us have any real freedom to play.
Oh, I guess my answer would be no. However, when 4.2 rolls around...