No, not by any means, but Project Blue
IS (by leaps and bounds). I don't believe that Project Green has been updated in quite some time, whereas Project Blue is updated regularly and thus contains 1.18 (migration) plus tons more features than even the watered down Project Green. At some point (if enough interest is shown)
hockeykid (who now handles the majority of the Migration, Fenix Mod, Project Blue and Project Green) may add Fenix Mod to Project Blue as well, making it the number one mod available due to its shear number of features be they graphical, performance or customization. You just can't go wrong with PB