I guess that depends on what you compare with. We use Solidworks for drafting, and compared to that level of drafting Rhino is not at a professional level. I have not tried v4 so it might not be creative self-torture, but I bet it is still cruel and unusual?
Metronorth also seems interested in keeping models and drawings and such connected. Unless I'm very outdated by the latest version Rhino is still not a parametric modeller, and has no history function. So if you change something somewhere at some point, you will have to manually keep track of and update any dependencies. On the flip side this lack of dependencies actually have quite considerable benefits as well - you can very quickly and easily make your models as you don't have to fiddle around with planes, sketches, dependencies, mates and so on.
I actually used Rhino long before Solidworks, but the lack of parametrics, drafting, shelling and (at that point at least) proper filleting, forced me to turn to Solidworks. For modelling difficult stuff I still have to revert to Rhino though. The combination is great!