Hardly. It was UNPLAYABLE on my computer (which was close to recommended specs) upon release. It was BUGGY AS HELL. And finally, it didn't make me skip school, work, food, water, and other basic needs for days and nights - which Civ II did in its time. I got bored with Civ IV after two weeks and haven't played it since.
Perhaps you have grown up? Anyway, I too think that Civ IV is the best of series. It offers much more than Civ II. As for bugs, I can recall some minor ones, but they were eliminated with patches.