Maybe. I've not yet seen metal parts from 3D printers, but have used its predecessor process: PM parts in steel, bronze and stainless alloys. They are pretty uniformly lower in strength properties than their wrought counterparts, unless infiltrated (e.g. copper into steel/stainless alloys). The infiltration tends to alter the chemistry to the point that corrosion resistant parts are no longer quite so resistant. Similarly, plastics from additive machines do not perform as well as their molded counterparts in strength. For mockups, prototypes, or purely decorative features, ie. applications where the lower strength and brittle behavior can be managed to an acceptalbe level, they do ok. But people predicting a "print your own engine", or car, or gun, etc. are extrapolating to an endpoint I just can't see from here.
One of the smarter uses of the technology is to print forms in wax, which can then be used for an investment casting, with a bit of effort.