Not quite. Guile extends the lambda body (and by extension let-forms) to allow
mixed definitions and expressions:
(lambda ()
(display "Heippa!")
(define routsi #t)
(and (read) routsi))
which expands to, more or less, a letrec*. All in accordance to the paper
fixing letrec(reloaded).
Thus saying that the cond clause body is like a lambda body is probably the
simplest way to express it.
R7RS defines the syntax of `let` et.al. as follows (section 3.5):
(let (<binding spec>*) <tail body>)
Where:
<tail body> = <definition>* <tail sequence>
<tail sequence> = <expression>* <tail expression>
So their definition of lambda:
(lambda <formals> <definition>* <expression>* <tail expression>)
could be abbreviated:
(lambda <formals> <tail body>)
I haven't read "Fixing letrec" but it looks like Guile intents to
redefine <tail body> as follows:
<tail body> = <definition-or-expression>* <tail expression>
<definition-or-expression>* = <definition> | <expression>
R6RS appears to use <tail body> in the same sense as R7RS.