Experience with the Marut and LCA would indicate otherwise. Russian experience with the Su-27 and Mig 1.44 would also indicate that the PAK-FA won't go from drawing board to fully deployed in 4 years. If the Russians were using off the shelf systems, I might be able to believe that more. But instead Russia is planning on going for many firsts for their aircraft design folks, stealth and AESA are just a couple of the new things they'll need to master.
Furthermore, the Indian inability to deploy LCA in large numbers shows that even if India and Russia could "make it right the first time" it would take many years to deploy the aircraft in any significant numbers, especially given the anemic funding Russia has given to the project.
The LCA is far simpler than the PAK-FA is proposed to be. The first prototype LCA was rolled out in 1995, and it is not planned to be operational until 2008, and won't be deployed widescale until about 2010. A 13 year cycle from prototype to deployment should say a little something about how long and how costly joint Russian-Indian PAK-FA development will be, especially given the number of new state of the art systems needed for the PAK-FA as opposed to LCA.