No, the serial number just reflect the invoice number. You can use Conder's system to get an accurate date range for the slab. http://boards.collectors-society.com/ubbthreads.php?ubb=showflat&Number=2248608 Just as an example, the slab below is a NGC 9 (used around 2001), but it's the lowest NGC serial number I have (lower than my 2.1).
To add to what raider said, you can't rely on the cert # to date a slab. It's possible that you could have a very low number originally issued, say, in the early 90's that was subsequently resubmitted 10-15 years later and put into a later generation slab. It would still keep the original cert #. Chris