Yes. ArcMap no longer automatically opens or closes any editing windows anymore. The Create Features window is only opened for you the very first time you start editing (per normal.mxt). After that, if you close it, it stays closed.
In the blogs section of the beta Resource Center, I have a post that mentions this. See the part, "Create Features window remembers its previous state" in
http://betablogs.esri.com/beta/arcgis/2011/08/01/feature-template-enhancements/
I have blog posts coming about what's new in editing (particularly on the topology and alignment enhancements). I'll put up about one every week or so, so keep checking there for new entries and videos.