Yes. Barry's style never needed to punctuate every action on screen. Like Mancini, he just did great themes that fit the film.
Also, films are mixed differently now, with the sound effects so loud that the music is lowered. Arnold has complained that some of his best cues are actually lost in the final mix we hear.
Compare the mix of OHMSS battle finale with say, the mix for the pre-credits hovercraft chase in DIE ANOTHER DAY.
Paul