It would...BUT....it doesn't have near the firepower of the AC-130. It also has to be much closer to the ground, and at risk for enemy gun fire and shoulder fired RPG's. So, if we were to RANK those air assets that would be best at taking out a terrorist stronghold, and as Plane referenced, we have complete air superiority, so as the AC doesn't have to defend itself from any enemy fighters
1) one AC 130
2) several Apache helicopters
3) 4-5 A-10 Warthogs
4) a spread of Tomahawk missles
5) Laser guided ordinance from 4-5 F-15 Strike Eagles or F-16 Falcons
(the last would be the best choice, if we didn't have air superiority, since they can defend themselves quite well, from other jet fighters)