I think so. The extra money to go up to pro doesnt gain you much,
not that cant be achieved with work-around programming, or third-party plug-ins.

Commercial gets you the "important" stuff, like WED, shaders and physics.
WED is pretty damn critical, shaders extremely critical.
Yes, the physics is rather weak, but it gived you the basics easily,
but can be replaced with the newton physics plugin for heavy, realistic physics simulations.

The only things you are losing, IMHO, is
The file-packer to create resource files : apparently replacable with a plugin I havent tried yet.
LOD management : a little extra (quite simple) programming on your own can replicate this nicely.
Unlimited multiplayers : Commercial comes with limit of 8, but 'Anet' is available for real networking.
Startup logo : irritating little popup window when your executable starts. Minor.

This is my opinion, and why I went for commercial over other versions.
(If I had the money I would have gone pro. Maybe after my first sucessful game eh?)