Yes, it's the same frame as any other New Vaquero, and a bit smaller than the original Vaquero. The Montado is distinguished by several characteristics, some of which are available on other models:
3 3/4" barrel
Truncated base pin (to give the necessarily short ejector a little more travel)
Wide-spur hammer, similar to the Super Blackhawk hammer, but with different checkering pattern
On the early models, vertical grooves on the front strap. (I think the later ones lacked this.)
All were polished stainless steel.
Montado means "mounted," and they were intended for use in mounted (horseback) shooting events. All features aid that style of competition in some way. For safety, mounted shooters do not use lead bullets, but try to pop ballloons with blank cartridges. The Montado edition Vaqeuro will nevertheless handle SAAMI-spec bullet loads with no trouble.