It can do some things like bonding, although I haven't figured this out yet.
But I don't think it has bridges.
So far the best way I can find to use NM along with bridges is have NM ignore the interface you want to bridge and use ifcfg scripts to manage it since they support bridging.
If you put "no-auto-default=*" in the 'main' section of NetworkManager.conf that will prevent NetworkManager from making those pesky 'Wired Connections 1' type things.
The only thing bad about this is that NM will periodically overwrite /etc/resolv.conf with it's own settings, which if you do not have any then it will make it effectively blank. This is irritating.