Tone Match Vs EQ Match

Is there any real difference between tone matching and eq matching (say with a program like iZotope or fab filter)

For example: to get a Metallica Tone using an Axe FX along with an external plugin in your DAW...

1. Find a 10 second solo guitar track from a Metallica CD.
2. On your Axe FX, load the USA IIC++ amp and a Mesa Boogie 4*12 Cabinet impulse response
3. In your DAW, hit record and play the exact same Metallica riff for 10 seconds
4. On the same channel, open a plug like iZotope or fab filter plugin
5. Load the 10 second solo guitar track from the Metallica CD
6. Click EQ match to match the waveforms

Is there any difference using this method as opposed to using the tone match feature in Axe FX? As in is the Tone Match (Axe FX) feature the exact same as EQ Match (iZotope / Fab Filter)?
 
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