Sure, but perpetuates a myth that it is. Google it - you'll be surprised that 80%+ still believe that it stands for Pro. That's the problem with misinformation, it becomes a double hermeneutic.
edit: sarcasm works only when everyone knows it is sarcasm, people come to CR for factual info, when they see a comment like that, many will assume it to be true, because most do not bother to read their manuals, thus they see a throw away line and believe it - they then tell their friends and others that P is the Professional mode and word of mouth does the rest - hence it becomes a misinformed self-fulfilling prophecy and hence most people tell others on blogs etc. (see Google for instance). What starts out as a sarcastic line becomes regurgitated fact...unfortunately.
