Even more then. If it is just a formula then were would be no difference in outcome with save/load, as it happens with assassins missions when you reload/retry without doing anything different (see
this post)
Don't underestimate your PC. The lowest PC that can run M2TW is many, many times more powerful than the supercomputers that helped to take the men on the moon 40 years ago.
If you run a large battle at 6x speed, you cannot usually (because humans are not quick enough to take decisions and control units at that speed unless there are just a few units), but battle AI has no problems. If you could see visualization of AI vs AI battle at 100x rest assured your CPU wouln't have problems in taking decisions for units and calculate results of the blows. It's just the graphic chip who would suffer having so many perspectives to calculate and would "lose" fluidity of movements.
With no visualization an AI vs AI battle can probably be run/computed in a very small time.
Also, from the point of view of developers, if they have ready the program modules/routines for battle AI and they know PC can run it very quickly with no graphics, why should they invent some complex formula if they can simply run a simulation?