Somewhat. Finland puts out a lot of good bands, Norway, Germany, Sweden, etc.. lots of good stuff comes out of Japan too. Canada also conjurs up some great bands here and there. I find it hard to give the USA some credit lately when all they want to do is market metalcore/screamo/numetal bands out of the ass...which is fine but they really are losing the essence the genre and spreading falsehood as to what is actually metal when doing that. For Fucks sake I saw Will Smith's wife in a crappy Nu-Metal band on David Letterman...it really spreads some horrible falsehood on the genre. There are great "true" bands from USA though.
Yes I take metal very very seriously!
np - Summoning - Dagor Bragollach