Yes, absolutely. Oddly, though, I didn't play Streets of Rage 2 for the 1st until it was released on the Xbox 360 marketplace. It was always featured on top 10 Genesis games lists from Gametrailers, Screwattack, 1up, etc.
So I decided to see for myself if it was really as good as advertised. The answer is 100% yes. And every time I play again, I have to step back and remind myself that the music was coming from the Sega Genesis. Incredible soundtrack and one of my favorite games ever.