Hi @phantasmix
great quesiton. In short, yes.
I have written a similar front end for for a website I am developing.
Basically, use acf_form with this tutorial to get your form to create draft posts:
http://www.advancedcustomfields.com/resources/tutorials/using-acf_form-to-create-a-new-post/
Then, as an admin, you can publish the draft and it will show on the site.
You may need to add in some extra customization, but there are actions and filters if you need.
Good luck
Cheers
E
