No. The Lambda Pro was the top of the line Stax at the time, and so was the Lambda Signature when it came out. The Lambda Nova series was the equivalent to the SR-x0x series that's out right now (The Lambda Nova Classic was the equivalent to the SR-303), and while it was out, the SR-Omega was out as well, and was the top of the line Stax. (I think... correct me if I'm wrong?)
People have consistently preferred the Lambda Pro and Lambda Signature over the SR-404 at meets, and I would expect the SR-404 to be better than the Lambda Nova Classic. However, I strongly suspect that the preferences were due to incorrect system synergy with the SR-404. The latter-day Lambdas represented a significant re-voicing of Stax Lambda-series phones, which became brighter and less impactful [note: this sentence is hearsay, and is based on what I've read on meet reports, and not personal experience]. They definitely need very specific sources and amplification (tubes) in order to sound balanced, at least to my ear. With the right system synergy the SR-404 sounds awesome, but I have to compare it to a well-matched Lambda Pro in order to see what the real deal is.
Anyway, the Lambda Nova Classic is probably a very good headphone, but you'd better match it up with tubes, or it will sound thin and bright.