If you believe the interwbez, the answer is no.
Olympic went through a rough, ROUGH patch and their quality was Shi*ite! They have made a ton of changes and their quality is much better now than it was when they were producing more weapons than they should have been.
Their choice of parts isn't the best. They cut corners and it shows if you really open them up and compare them side by side.
Now having said that, I have a matching upper and lower from Olympic that I "built up" into a very reliable, very accurate and well running AR-15 that has seen a dozen years of shooting without any issues. I happen to shop rat in a good quality gun shop and had access to a lot of AR knowledge and reduced price on some quality parts.
I put in an RRA two stage trigger and lower parts kit. I put on a 6 position collapsible stock from Magpul. Having help, we trued up the upper receiver with the flats on the bull barrel I got and added a free float tube from Yankee Hill Machine to go with a low profile gas block from the same place. So, I don't really have an "Olympic Arms assembled" platform.
I have shot them. I have worked on them, changing parts and doing mods. They are not crap, but they are not on the caliber with LaRue or other "name brand" models.
Right now they are going for between $800-$900 MSRP. I just looked and Guns America has their base GI-16 for $800.
For that kind of money there are better constructed models out there.
I just read yesterday that Dick's Sporting goods is carrying a really nice Troy Industries AR for less than a grand. That is a screaming deal in my book!
If you are looking at a receiver to do work with, the Olympic is fine. If you are looking for an assembled product there are other choices in this ballpark.