Yes, that was the only version that shared much of it's drive train, braking systems and suspension with the acual military hummers. The new ones were more "civillianized" for better paved road comfort.
It really is just a waste. They are too big/bulky and "nice" to be taking off road now. If you have any doubts about it's lack of off-road ability, check this video out...this is something an older Wrangler or even an old Ford Bronco could easily trek....
http://www.youtube.com/watch?v=KSMTRxIknpw
Edit: or this one...it's my point exactly...It shows an older hummer gettin hung up on a tiny crest wihle you see Jeeps and the old Bronco I's just trek right by it...funny
http://www.youtube.com/watch?v=lpxoomyFs_0