Yes it is.
We will publish the information about the upgrade scheme for PowerTools 2010 when the updated version of PowerTools 2009 is released, probably in next week.
But basically, if you have purchased PowerTools 2009 (any license type) in August 2009 or later, you are entitled for a free upgrade. As always, users are not forced to update, if you own a license for PowerTools 2009 you can use it as long as you want. But, if you want, you can also update to PowerTools 2010. You can also use both at the same time, if you wish.
And of course, all Platinum VIP customers can upgrade without any fees no matter when the license was bought.