Yes, you should be able to see the field on the report, but I believe that will be dependent on the field-level-security as well. If the field is hidden from certain profiles, it will not show on the report.
In Group or Professional Edition (without custom profiles), the field will not be visible in reports or the API. In Professional Edition with custom profiles, Enterprise Edition, and Unlimited Edition, it will be visible depending on the field level security for the field.
Yes, you should be able to see the field on the report, but I believe that will be dependent on the field-level-security as well. If the field is hidden from certain profiles, it will not show on the report.
Hope this helps.
Wes Cooper