Yup! you can make him roar, open/close the mouth, turn head from side to side, turn whole right/whole left, swing tail. The mechanics inside run slow/smooth so his movements look like they do in the movies.
Here is one on ebay now, its the 54' suit version which i think looks kind of retarded, but it has the same features/insides.
http://cgi.ebay.com/1954-GODZILLA-Marui-Ja...1QQcmdZViewItem