No way. I found that my more advanced education in physics, math and chemistry actually hindered me at first. I never had such simple problems on homework or exams (even in introductory courses), so my first instinct was always to look for a more complicated answer to the problem. Part of studying for the PS and organic chemistry parts of the MCAT was learning to go to the simplest explanation instead of trying to find a more complicated explanation.
I would not say a more advanced understanding of concepts sets you up better for the MCAT. I think once it comes down to the difference between a 32 and a 37, it's really more about how good you are taking these sorts of tests and/or how hard you study.
In my last few practice exams, all my sub-scores varied widely from 10-13, but my overall score stayed mostly the same. This to me suggested a lack of endurance, which could have probably been fixed by studying more. Unfortunately, I had run out of time and had to take the exam if I wanted to apply this cycle.
EDIT: I guess the biology section is a different story, though. My biology courses were very concept-oriented and not very memory-heavy. My courses were also more centered around cell biology than physiology, so studying for the BS section of the MCAT required a lot of memory-oriented studying. I think the best way to prepare yourself for the critical thinking parts of the BS section would just be to do a ton of practice problems.