Sorta. From my anecdotal evidence up the road in Dallas, software engineers still make comfortable salaries, but more in the $120k~ range. Nobody I know up here makes $200k+.

One thing to consider though, is that the companies available to work for outside Austin, probably aren't supplementing salaries with generous stock compensation packages. If more startups move to Texas, that could change too.

With two working adults in the house, 120k/ea is a very comfortable living.