Most definitely...
Any machine makes the load lighter via pulleys and cams this give a destinct leavage advantage with regards to workloads. The only way around this, if you could say that there was one, is to add sufficent weight to render the counterbalance as ineffectual and void as far as involvement is concerned. Then you would have something just little close to the true amount of weight that you want to utilize. However, one must realize that machines are great for shaping the muslces because they are isolation movements while the old style DB and BB are used to develope a multitude of muscle groups with stablizing muscle playing an active role in the process.
Maxmuscle66