Yes (at least on mine) the bucket moves at a consistant interval between F-N-R. Essentially, at 'Foward' the bucket is fully retracted (up position). In Neutral, the bucket comes about halfway down so that 1/2 of the water from the pump is used for forward motion, and the other 1/2 is used for reverse motion; should make the boat hold in place. When in Reverse the bucket is fully down and all propulsion is directed back towards the bow propelling the boat backward.
That said, you still may need to adjust the bucket after the new cable is installed so that the bucket is fully up when in forward, keeps the boat stationary while in neutral. Hope this helps some, good luck.