Yes it will.
There has always been different tubing options on their custom frames. (Z5 is not a custom line)
I spoke with Tom Rodi & Bob Parlee at the show and they said, "yes".
I think to many this looks just like a Z5, and in a lot of ways it does, but the entire cutome tubing has been updated, so-to-speak, to more modern tube shapes and sizes, but still the same quality as the Z1,Z2,Z3 (which is well know for its quality).
This really is an update, in the understated & simple, yet high quality that Parlee is known for.
Seems to make perfect sence.
Regarding the Z5:
The Z-Zero (custom) is to the Z5 (stock), as the Z3 (custom) was to the Z4 (stock)
(yes the Z4 is gone, but replaced by the Z5, as eventually the Z1,Z2,Z3 will,probably, be replaced but the Z-Zero tubing)
It's just a natural transition from a company that dosen't bring a new bike out every year, but, sytematically brings out product when it is of "top quality".
Sorry to sound like a comercial, but I am excited about this. It's a great common sence update to a brand that has always been about quality, elegance, and simplicity.