Oh, HELLS yeah.
When I bake, I use barm all the time. Makes the loaf rise like a rocket. Of course, that's barm, not packets of dry yeast.
The great thing about using ale yeast from your LHBS instead of the dry yeast packets you get in the grocery is that you can usually be assured the ale yeast is a lot more fresh and that good care has been taken of it. Lord knows how long the Red Star yeast has been sitting there on the shelf and what environment it's had to live in.
Should give a different flavor, too.
Bob