No, it's not. USICS issued a new memo in january, which made H1B hard to use for bodyshops(~consulting companies). As a result only 25% of total quota is currently submitted and numbers are rising very slow(1-2% a week).

I'm in the process of switching from a TN to an H1B, and the cap is not filled. They're probably assuming it is similar to 2008 and before, when the cap was typically reached within a day or two after they started accepting applications.