No it is not. There was a huge discussion with mini maps, and radars. The conclusion came that it's unfair, due to the fact you get an overhead view of the area around you, this could locate hidden buildings/objects within your vicinity. Also helps locate different biomes or structures changing the distance settings.
Then the worst comes from the people with the know how to actually mod the files, that then Rei's Minimap can easily be changed to reveal the locations of other players.
