Well the language is, the alphabet is the same though. But it doesn't map onto the Latin alphabet in a 1:1 relationship, not even the same number of letters (Hebrew has 22).
As far as I know, you are correct there. The symbols are the same, but the meaning behind words has changed to adopt to the prevailing traditions, such as the word Elohim. Seems to be a lot of dispute around that one.
Anyhow, Hebrew is just an amazing language, the fact that everything was constructed to break down numerically is just amazing.