Open value train, check. Super funky horizontally mounted rear shocks, right again! This is why Moto Guzzi attracts it's cult followers. Complicated but I bet it rode great.
Strictly speaking, and being pedantic - no. Slippery Sam was a Production class racer, with the standard 1970 Triumph Trident frame, raygun silencers, etc. The bike in the photo with Percy Tait appears to be a Formula 750 class racer with a 1970 Rob North frame.