It sure is. A good sound man and relatively low stage volumes makes a big difference. I stand between the bass and the amp whenever possible and sometimes even go to the side of the stage away from the amp. Kinds odd looking, but if you have to do it to avoid the howls, it's what you do. I also use a HPF and Tonehammer to dial out rumble and feedback. The Tonehammer can work as a limited notch filter if necessary. Same with the Variamp on the 360 and the parametric EQ on the Carvin. There's lots of things - none of 'em foolproof and all a pain in the butt to figure out on the fly when it all starts to go haywire.
The issue for me with a magnetic pickup is string choice. I use Evah Pirastros, which are wound synthetic for E and A, and gut for D and G. A magnetic wouldn't pick that signal up because there's no metal at all in two strings and not so much in the other two. I could switch strings, but those last so long and sound so good that I don't want to. Plus they are really easy on the fingers in a way that steelies aren't. I thought about putting Spiros on it. My brother has Spiros on his, and they sounded great for a while. Then they didn't any more. The strings I have still sound about the same as they did 18 months ago when I put them on. If anything, they sound better now and they are certainly more stable.
Who would have thought discussions of 'Birds would have evolved into microphones and clicky pickups! I guess people who play Thunderbirds don't get hung up on convention or protocol and get their fingers into all kinds of other things. Who would have thought?