Yes - it definitely is. I recently used up my last can on egg, cheddar, & turkey Spam breakfast sandwiches this morning (otherwise I'd give you the particulars here), & can definitely tell you that it's delicious. In fact, I'm sure one of the reason's the Spam folks came out with turkey Spam was to appeal to folks on low fat &/or low sodium diets.
Not as salty as regular Spam, but just as tasty - at least in my (& husband's) opinion.
Give it a try - what have you got to lose?