Indeed not. However, removing the head from a snake goes a very long way towards killing it. There is always the risk of al Quaeda putting the martyr's mantle on bin Laden but I honestly believe that this is the turning point. From this point on, provided we don't thing "Job Done" and cease the efforts to root out and destroy every element of this dreadful organisation, the end of al Quaeda is in sight. It might take years more and probably decades but the struggle to end this threat will eventually be successful.
I have to think of parallels with Red Army Faction. These terrorists created havoc and used a similar cell system to that we think al Quaeda uses. It was after the leaders were neutralised that the Faction slowly decayed, with the number of atrocities committed by them decreasing over the subsequent decades. The factor that eventually was crucial to the Faction's demise was the end of state sponsorship for it by the DDR. After German reunification, it was revealed that the East German government harboured the Faction's members and even helped them evade capture by providing them with fake identities. Reunification cut this source of succour for the faction off and combining that with a lack of leadership, the end of the group's activities was inevitable.
Consequently, though we have removed bin Laden as the head of al Queada, the west must not use this as an excuse for giving up the difficult struggle in Afghanistan. The Taliban have provided al Quaeda with support similar to that provided by the DDR to the Red Army Faction and unless there is some end to their disagreements with the West, al Quaeda will take much much longer to wither and die. It may be that the only solution is a military one, though, frankly, I doubt it, given the fact that Iran is providing the Taliban support. The combination of firm military resolve, a dramatic improvement in the standard of living in Western Europe over that in the countries of the Warsaw Pact and significant diplomacy between the USA and the USSR led to the ultimate end of the cold war and with it the Red Army Faction.
As yet, I see no efforts made to engage politically with Iran or the Taliban. Without bin Laden pushing, there is a hope now that, once the dust has settled, such diplomacy can begin. The struggle must continue, with military resolve providing the backing to diplomatic overtures.