No it isn't. The "access control" feature prevents unknown wireless NICs from connecting to the network, whether they use a fixed IP or DHCP (it doesn't apply to wired connections, of course). Turning off DHCP prevents road warriors from trying to access your network unless they know your LAN address range – and with access control, they can't anyway, unless you're stupid enough to use WEP or no encryption. 2 years ago I saw a demo where a guy equipped with a Linux laptop penetrated a wireless LAN with WEP encryption in 7 minutes flat,
while explaining what he was doing. His computer cloned, then superseded, a MAC address listed by access control. Uninterrupted, he could have done it in under 5 minutes. With today's processors, the same could be done in under 3 minutes. So far WPA2 is safe from such intrusions.