Darkness said:
No. EL is a number based on the CRs of the creatures in an encounter and further modified by the circumstances. If you're basing XP off of that, you won't necessarily get the intended result.
I agree with the previous poster, the results are fundamentally the same, subject to interpolations.
Case: 8 ogres (CR 3) versus 9th level party, with a "less difficult" modifier.
By CR: (CR 3) 338 xp x 8 ogres = 2704 x2/3 = 1803 xp.
By EL: (EL 9-1=8) = 1800 xp.
So in this case it's as close as it could possibly be with the XP chart using whole-numbers. It's generally exactly the same when monster numbers are powers of 2 and halfway between (2, 3, 4, 6, 8, 12, etc.) For other numbers like "9" it will stray a little bit, sometimes a few precent up or down.
When I DM, if I have an adventure with EL's listed in advance, I do just award XP by those, since it's a shorter calculation and I know either method is really generating the same numbers, subject to a little rounding error.