Could be. It doesn't help that it's now a tad too tight at exactly that point of the torso where the top button falls, which draws attention to that part of the fit. I'm a bit bigger there then I was when I first got the suit about seven years ago. Back then there was no buttoning crease to be seen.
Getting this right with a three-piece is not all that easy, since in addition to all the usual considerations one needs to take into account the button stance of the waistcoat.
The simple solution to the "slightly tight jacket, with a somewhat high buttoning point" would be to wear the jacket unbuttoned when worn as part of a three-piece. I almost always wear my three-pieces with the jacket unbuttoned. Otherwise people wouldn't get to view the waistcoat in all it's glory