"# We spent a lot of time getting our offices right. We think it's important to have a high density of people. People are packed together everywhere. We all share offices. We like this set of buildings because it's more like a densely packed university campus than a typical suburban office park."

I work at Carnegie Mellon, and Google Pittsburgh is literally right next to the building I work in. I visited a friend there, and there really isn't much distinction between their office layout and the way the rest of the campus looks (except they have better food). Googlers attend and give talks on campus and in their offices all the time, right alongside the faculty and students.

So, yes, I would say they have succeeded in recreating the grad school environment, assuming their offices are anything like the Pittsburgh one.