Yes to this, but I will just add that it only pastes the order of the players. So if you simply copy/pasted the entire rosters from '98 and pasted them into '97, this will work.
But if you rearrange the order that the players are listed in the Players window in anyway, you will notice some issues.
ie: if your first line consists of the fourth, fifth, seventh, fifteenth and twentieth players in your list, then copy/pasting the line will select the players in those same slots to make your new line, even if you first rearranged the order of the original players for some other organizational purpose.