In a word, no. Let me say that again: NO.
Every summer since 2003, an email has been circulating which claims that on the night of August 27th Mars will appear as big as the full moon. Of course, even the email itself admits, albeit in tiny print, that this will only be the case if Mars is view at 75-power magnification.
The truth is that in 2003, Mars and Earth were closer in their orbits than they had been in a long time, or will be in something like 60,000 years. That said, the difference between Mars' appearance in 2003 and, say, 2005 was extremely negligible.
The good new? You can see Mars tonight in the night sky! In fact, if you time it right and the skies cooperate, you'll see Mercury, Saturn, Venus and Mars all once in the western sky at dusk. They'll all be gone by about 10 PM, so don't dally! (Oh, but also don't worry if it's overcast tonight; these planets will be all be visible together for the next week or so.)
Note: Even though you won't see the moon in those spots, since we're past those dates, you'll still the planets lined up like this through the end of the month. No telescope needed, so I don't want to hear any excuses!