Not exactly. You are not feeling or measuring road force on jackstands so tire / wheel uniformity is still in question. You could have a tire that has a high spot, or a uniformity issue under load which is perceived as a vibration. The only way to measure this is to use a road force balancer which loads the tire wheel assembly with upwards of 1200 lbs and measures this. Then sheen dimensions are measures and a prediction is made to see if you can match the high / stiff spot in the tire to the lowest spot on the wheel. Also while I'm on my soapbox make sure the shop measuring Balance and road force is at a minimum using collets from the back. The best method for centering wheels is a collet on the back side of the wheel and a flange plate on the front. I would not accept a shop using a traditional cone and coning the front side of the wheel. Most shops do it this way because they don't know any better, and or they are lazy. Front coning also puts the cone on the threaded part of the balancer shaft which wears significantly faster than the solid part. This introduces even further inaccuracies. If the wheels aren't centered on the balancer correctly your pissing in the wind.
Edit: quick test to see if your centered, when all balanced take it off, and put it back on the balancer. Spin again. If balance changes you are not repeating which means you are not centered
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