Yes it is. One of the biggest traditions now is the City Centre parties. Especially in Edinburgh and Glasgow - great firework displays as well. You still also get the Hogmany shows on BBC Scotland and the independant Scottish TV Channels. There is still a mixture of traditional music and modern - I enjoy the mix, but at this time of year in particular I think the traditonal is more enjoyable.
I think the saddest thing about New Year now is that most people are far too wary to leave their doors open for 'first footers'. Unlike years ago when everyone's door was wide open and you could visit as many neighbours/friends as you liked. I think many Scottish families are now pre-planning their Hogmany and New Year celebrations to avoid gate-crashers and more unsavoury characters. And most have their doors firmly locked - alas a sad sign of the times.