Yes, it most certainly is...many times over.
"Tired light" Check out "Tolman surface brightness test"
http://en.wikipedia.org/wiki/Tired_light
If you were really interested, you could have check that out yourself.
Tired light part is one alternative explanation, which got ruled out due to brightness aspect as on date.
But the question is not in support of Tired Light, it is about the present day explanation of red shift.
The relativistic answer given is multiple frames, pure mathematics, where Energy kind of fades away in mathematical operations, the conservation aspect of Energy goes for a toss? It is not the question of one photon, imagine the amount of Energy consumed by mathematical operators in millions and billions of photons arriving. But thats ok, if thats what mainstream says...
But the second question, which cannot be justified even with mathematics, remains unanswered....
The photon from remote Galaxy X, encounters continuous expansion throughout its journey, then how come Red Shift is indicative of expansion only near the Galaxy X?? Let us draw circles keeping Earth(observer) as center and of radius 500 mly, 1000 mly, 1500 mly, 2000 mly etc. The photon which is received from Galaxy at 2000 mly is treated as red shifted only near this Galaxy space..Why?? First it would expanded at d= 2000 mly, then at d = 1500 mly, then at d = 1000 mly etc.. This is just the discrete aspect, but in principle this is continuous expansion, so it is clearly incorrect to treat the Red Shift only of d = 2000 mly. The redshift is of continuous journey period, not of the space near origin.. Please provide me with a link which answers this question. If we do mathematics keeping in view the continuous aspect of space expansion, then the space expansion velocities will differ substantially at d = 2000 mly, then what is estimated. And if you bring in Gravitational red and blue shift (as shown by Pound and Rebka), then the mathematics become far more complex.
And Paddoboy, you are a prolific poster, pl do not act smart and get into some kind of self praise group..terming few as actual and rest all as sock puppets is not a desirable thing in such public forums. The very Declan Lunny rightly rubbished your out of context post referring to Uncertainty principle. So lets act straight...right is right and crap is crap... We are all non professionals (in the field of cosmology) and got fascinated, and thanks to internet we know about GR / SR / Lensing / Red Shift / Hubble / BB / Inflation / BH / DM / DE / Baryons / Space-time etc, but lets humble ourselves to the fact that our knowledge is mostly derived out of our ability to understand relevant topic by googling it..