Was the Roman Empire in Nebuchadnezzar's image really a republic instead of rule by one Caesar?
Yes. The Roman Empire depicted in Nebuchadnezzar's image is described as a republic, not simply rule by one Caesar. Though normally associated with the Caesars, it depended on its senate and representatives, functioning like an early democracy—a government by consensus rather than absolute power of one ruler.
Les explains that even though Rome is normally thought of as governed by the Caesars, the Roman Empire was in reality a republic. It depended on its senate and representatives, and he calls this the seeds of democracy in its infancy. This fits the political progression in Nebuchadnezzar's image: from the absolute power of one, to a consensus of two, to a consensus of four, to a consensus of many. Later the Roman Empire divided into East and West, with the East capitalized at Constantinople and the West at Rome, matching the divided feet and toes.