Exactly.

On my Linux client notebook here, the file is called /var/lib/dhcp3/dhclient.eth0.leases, and contains this data:
Code:
lease {
  interface "eth0";
  fixed-address 10.0.0.6;
  option subnet-mask 255.255.255.0;
  option time-offset -18000;
  option dhcp-lease-time 86400;
  option routers 10.0.0.2;
  option dhcp-message-type 5;
  option dhcp-server-identifier 10.0.0.2;
  option domain-name-servers 10.0.0.2;
  option broadcast-address 10.0.0.255;
  option host-name "corey";
  option netbios-name-servers 10.0.0.2;
  option domain-name "localnet.";
  renew 3 2008/8/6 23:56:34;
  rebind 4 2008/8/7 11:15:43;
  expire 4 2008/8/7 14:15:43;
}



Using Wireshark (aka. "Ethereal"), I can monitor the entire DHCP exchange, and see the client first request the original 10.0.0.6 address, and get ACK'd by the server for it.

Cheers