Seems to me it's getting pretty close to it, from the level of play I've seen from the games I've watched so far this season.
check out this site which lists all the players from the squads from 93/94 season to presentI wasn't really there in 1992/3, but I can remember thinking Sheffield Wednesday signing Regi Blinker was amazing, so yes.
Answer in my opinion. NO
I reckon the Championship is the best second tier league in the world. It's something like the sixth richest league in the world and one of the most attended. Great standard of play and great stadiums and facilities.
But that's seriously underestimating the Premiership in 1992/93. There are too many average overated foreigners in the Premiership who would be no better than homegrown players.
I think the Championship had better quality pitches and stadiums than the Premiership did back then. But the level of play is not there yet.