No it does not. A lot of it lands in the inbox, though majority does goes to the spam folder.

Here I got this one, for example:

"Barr. D Salim <atmcad21@embarqmail.com>

May 3 (5 days ago)

to undisclosed recipients you are been compensate"

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Another:

Dianne Yak <yak.dianne@yahoo.com> May 5 (3 days ago)

to undisclosed recipients Hello dear

I am Dianne, I am a young girl, i was wondering if we can be friends, who knows may be it might grow in to some thing deep, i want a friend i can share something with. seeing your email, I have the confidence in contacting you. I know this mail will come to you as a surprise but treat it with care, we can share photos, to know each other more. I hope to hear from your respond soon.

Yours faithfully

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There you go! High quality spam that beats Google hand down. :)