Yes. Each 5' contour line is on it's proper elevation in 3d. :)
I've gone into InRoads and tried File>Import>Surface
Named the surface
Load from: Level
Use Element Elev
Feature Style: Contour
Point Type: Contour
From there ( I'm not even sure that part is right ) I try and triangulate...but it gets all jumbled up...not like I would expect.