Yes. When melted in the smeltery, a single ore block makes 2 ingots.
Ore-berries in the smelter do not double the yield... 9 berries = 1 ingot, but if you're like me you have a berry farm next to your smeltery that yields at least an ingot a day of each type and I add to mine every time I find an ore-berry bush.
Not only that, but basic tools are cheaper in TiC. For example:
Vanilla wooden pick: 3 planks for the head, two sticks (1/2 plank) for the handle = 3.5 planks.
TiC wooden pick: 1 plank for the head, 1/2 plank for the tool rod, 1/2 plank for the tool binding = 2 planks.
Different materials can be used for each part of a tool or weapon, each having unique characteristics and bonuses.
TiC does not need an Anvil (at a cost of 31 iron ingots for a limited number of uses) to repair tools, just the tool station you built the tool on. You can also apply enhancements to tools/weapons here using gathered resources instead of needing an enchantment table, book & anvil or XP.
My favorite enhancement, even more so with the new Mega Taiga biome in NC 1.7 with it's Mossy Cobble Boulders on the surface:
9 mossy cobble --> 1 moss. 1 moss + (tool/weapon) = self repairing (tool/weapon).
Make a few of these so you can alternate to a fresh one periodically and you might not need another, until you want tier 2 versions.
Alloys are available without the need to be processed through multiple machines, using the old fashioned "melt 'em down together" method.
I do find a need for other systems eventually, but TiC is easy to get up and running when you first start and can help you maintain your tools and weapons cheaper, rather than replacing them..