Kind of. Spells back then sometimes had modifiers that increased or lowered the damage level. For example, Death Touch had a Drain of (Damage Level-1). Also keep in mind that damage levels staged up and down with every 2 hits, so even for Deadly damage, you didn't have to get ten hits on your Drain roll - just 8.
Damaging spells were worse for the defender in SR3. If you cast a spell like manabolt for Deadly damage, you killed the target with a single net success. Also, targets did not have Edge, counterspelling was rarer (since it came out of your spell pool), and foci and totems could add a lot more dice to a mage's roll.