Yup, well, similar anyways. The way Cameron filmed that scene was exactly like Arnold killing the first Sarah Connor(The old lady answering the door) in the original Terminator. Slow-Mo, gun in hand, big coat etc. It's definitely on purpose and it's not the only one. While True Lies is mostly a Bond homage, their are other films he spoofed as well. That's where alot of the Humor comes from too.

He's definitely dressed very similarly to Arnold's terminator. Not sure if he has the EXACT same clothes, but it's something worth mentioning alright.
You want something corny? You got it!