I've done a bunch of fresh Win98SE installs with OEM versions. I find the easiest way is to boot the system with a Win98SE startup disk with format.com copied to it, fdisk & format the target drive, create a directory on it to store the setup files (\Win98 on the CD), copy all of the files from the \Win98 directory on the CD to the directory you created, then run setup from that directory. You'll never be prompted for that CD again!

But to answer your question... Yep!
Rob