On a single target, yes.
But in a dungeon (or alliance raid if the bar won't drain after the boss), the most damage will come from an AoE LB.
AoE LB1 on 2 targets > melee LB1
AoE LB1 on 4 targets > melee LB2
AoE LB1 on 7 targets > melee LB3
That's all AoE LB 1. It should be used on trash to shave the most time off the run.