Yes, that is what it means - the circle and the feet cut outs are already made so they fit the infantry base exactly.
Axis and Allies 1914 pieces unopend for sale on ebay
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Here is the link to one of the amries, I have all the armies and chips listed unopened.
I will gladly combine shipping.
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=181108330859