No...
In index.php look for the code:
Code:
$output .= "
<div id=\"copyright\">$vbphrase[vbulletin_copyright]</div>
</div>
</body>
</html>";
And paste the google code directly before
</body>.
Remember you will need to redo this each time you upgrade vbulletin if you do it this way.
Also you will have to 'escape' every
double quote in the google code with a slash \ as explained in the top post.
EDIT- Actually it might work at the very very end of the file, AFTER the php closing tag too... I haven't tested it but that should work and no need to escape the quotes. But it wouldn't be valid HTML because all the code should be before the </html> so it may not work in all browsers.