Yes and in fact being an EF lens, it will also work fully on full frame new DSLR bodies such as 5D III but remember that the motor for AutoFocusing is much slower on older lenses compare to what you get today.
The other difference is that now a days lens coating is a lot better than older ones and many lenses these days, backjed by the power of experience and mass production are using aspherical and other technical benefits at much cheaper price when compare to earlier days when they were introduced.
So short answer, yes and enjoy it.
