Not sure which tools you are refering to. If you are refering to the tools in ACR which is how RAW files are first opened in PSE7, then yes, those are the tools you use in LR. If you are looking for things such as clone, selection tools to cut out selections, etc, then no.
LR is a designed to develop and enhance images. However it is quite powerful for most purposes. Here is a good example of an image that was processed in LR to get the look I wanted. I wanted to have an image that portrayed the way the scene looked, but used a flash get the shot, as I didn't want to push the ISO.
http://www.flickr.com/photos/2587119...7616837563510/