Not according to Jeff Strabone's math:
It turns out that many of the small states are highly partisan, i.e. they vote overwhelmingly for one candidate over another. This fact will prove important in answering our question. Most people who have thought about these questions readily see that the electoral college favors the swing states: those where the outcome is usually close. Florida and New Mexico in 2000, for instance, were won with margins of victory of less than 1000 votes each. Since all but two states use a winner-take-all formula in awarding their electoral votes, swing states attract the most political attention and can sway the electoral college disproportionately despite having small or negligible impact on the nationwide popular vote.
Here is my argument in a nutshell: The states whose voting power is diminished in the electoral college are the highly partisan states, i.e. those that vote overwhelmingly for one candidate over another, regardless of size. In other words, the small, highly partisan states should want to abolish the electoral college, yet they are the ones who have most resisted its abolition.
Previous coverage of the electoral college's role in the election here and here.