No. The reference implementation doesn't keep a master map of all addresses to unspent transaction outputs, and adding such an index for the small number of services that need to look up arbitrary addresses doesn't make sense.
I understand the point but I think that as fewer and fewer people other than miners and services end up choosing to use the "reference implementation" (due to the size of the block chain and time it takes to process) wouldn't having such an index (as an option) make at least a little sense (which would only come into effect after a rescan assuming the option wasn't originally turned on)?
My view is that the "reference implementation" is actually what we want to make things easy and possible for services (rather than each having to roll their own). If this is wrong then why bother with the "raw tx" API at all (as certainly no normal end-user will ever use it)?