In general, yes, it is. However, there are other characteristics that factor into the forgiveness equation such as riser geometry, axle to axle length, cam design, etc...

If you are getting a "good deal" on a new 2006 allegiance with the warranty still intact then go for the Allegiance.
If the deal is for either bow in the 2006 model, shoot & then decide.

Greetings! Well I ended up getting the new 2006 Allegiance, it just felt better and I loved it totally. The extra speed wont hurt and I just love shooting this rig, I am so glad I stumbled across this deal, I am just bummed that the season is over in a month, bummer! Thankfully the range is open year round! I am going to list my old bow for sale, its basically a brand new Reflex Highlander, other posts will confirm that that is a great bow as well, thanks for all the inputs form everyone!

Just another word. I just purchased an 2007 Allegience am very satisfied. I believe I have target practiced everyday for the last two weeks. I have not shot a Bow seriously in about 40 years. Cost $699. Would not change it for anything.

I chose the 06 Allegiance over the 06 Tribute, honestly the way the Allegiance shoots, unless you want a shorter ATA bow, I felt the 06 Tribute was obsolete in their line. The Allegiance just kicked it's butt. The Tribute however is a fanstatic bow.