Basically it's true.
There wasn't anything to choose from. We had four candidates: one from the descendants of communist party, running for presidency for the fourth time. Mr. Zyganov. He's the one to start complaining that voting was fake.
Than comes pretty smart but very weird and sly guy, who is a leader of his own party called Liberal Democratic party of Russia. Mr. Djirinovsky. He's tried four times as well. His party actually is a more or less real political power. At least there are some active members among people I know.
The third candidate to compete with Mr. Medvedev was absolutely fictitious character, who actually doesn't worth mentioning. Nobody knows who's he and ho he managed to get 2 million signatures to become a candidate. He's got less than 2%.
Mr. Medvedev is Putins man. Is it good or bad for Russia? Really hard to say. So far situation is stable, we'll see.
UPD. Pre voting joke:
50% of the population will vote for Djirinovski (Liberal Party - weird guy) just for the sake of a joke, and other 50% will not vote because they are sure that Medvedev will win anyways.