No.
Taking RV530 as the example, it has 4 pipes with "three shaders" these are parallel, so its handling three "pixels" (fragments) per pipeline in this part of the pipeline - each shader unit is the same as ATI's other shader units, consistin of a full ALU and a second ADD + Modifier ALU. Each quad in G70 is sill handling 4 pixels, its just that the ALU arrangement (again, two per pipe) is a little more capable than ATI's.