It does, I won't ever write CSS files by hand again if I can help it.
What's even cooler is math manipulations, like changing the color:
background-color: lighten($base-color, 15%);
Which is amazing for stuff like borders of buttons and other colors objects where you just want it a little darker/lighter than the inner background.
Frontend Frameworks are pretty popular now, like Ralph mentioned earlier. They take alot of the boring repeated overhead out and make it clean. If you stick the base styles, your sites start looking like every other site though, so you should really override them alot.
The 2 most popular are:
Bootstrap is based in LESS and most used. There is a SASS version though.
Foundation is based on SASS and my favorite.
Imgur is a "Bootstrapped" site. Heavily modified and customized of course.