Wouldn't that be more correctly termed "fixed-address dhcp" (in ISC parlance)[1]
OK, so the end result is similar in that the PI is always on the same IP address *as long as the dhcp server is available* - but to call that sort of setup "static IP" isn't quite right.
-Paul [1] Or static DHCP Assignment by DD-WRT, Address Reservation by Netgear, DHCP reservation or Static DHCP by Cisco and Linksys, and IP reservation or MAC/IP binding by various other router manufacturers[2] [2] According to wackypedia at least