It's not the same thing, though. Sure, it works for the E and B strings, because with those two pairs, that's all it really is anyway, just a natural chorus. With the other 4 pairs, though, it's octaves, and it makes for stunningly beautiful lead/rhythm lines like (as I've said) the Byrds.
Seriously is there a guitarist anywhere in the world as underrated as the dude who played that 12-string for them?