No, it is your responsibility to keep track of your inventory. Future releases may accommodate this feature. If you run out, or discontinue the sale of a product, it should be disabled in our system and links to it should be removed from your site. You may be able to find a 3rd Party Shopping Cart that can meet your needs.
http://www.2checkout.com/community/blog/category/knowledge-base/tech-support/3rd-party-carts/recommended-carts/
