Yes,

Virtue has been called the first and last training. It is all you do in daily life.
I do think that even though training your Sila, Contemplating your Sila, Living in a virtuous way is the foundation of meditation. Other than Meditation SIla can be cultivated throughout every moment of the day.

That said meditation, Both Samadhi and Vipassana yield their own merrits. Part of a virtous life, but needed to walk the path to liberation to it's end. Without them I doubt someone who is virtuous will come to the level of concentration and insight needed to peek into their true nature enough to realize the deathless.