It is, but the same method can be done with lava buckets. It just requires much more of a setup to remove the buckets.
i did that but i had an super large about of buckets so i ended up throwing them in my alloy furnace to get the iron back
I think that sk has already decided to reset. See his article http://www.skcraft.com/threads/upcoming-alice-world-reset.494/page-2#post-3298