On flats maybe but not on hills or descents. On hills you feel the gradient which means dropping the cadence when in 100% mode, but at say 20% you can still spin a higher cadence albeit in a higher gear. On the downs it's interesting; at 100% I spin out or have to pedal like crazy to get any power up, but at say 20% its easier to keep power on. This is a double edged sword for me at 20% as it means there is less chance of a rest on the downs.
Watts is watts, as they say, but for me I find it slightly more natural to ride at a lower cadence when going up hill so I can hold the power better. Of course everyone is different and I don't think there is a right or wrong way.