It's possible and you will train as you used to do back then but in terms of time spent? nope, not at all. In most cases is even Faster, cheaper, and more player friendly to farm the gold price of a training weapon than taking care of your character from time to time to get the same amount of points progression (in all skills for any vocation).
It's not worth it because you must anyway stay at the computer taking care of whatever you are doing to get progression: attacking a mob, rune-making, wasting mana, etc, so if you will either way take care of the activity it's better to just go hunt and obtain gold to use it on a training weapon that is completely afk for as much as it last, it's even faster if you just use tibia coins to obtain gold so it's unworthy in most if not all cases.