Not quite. While they do produce similar amounts of torque, it's actually the other way around.
Yamaha went with the cross-plane crank because they wanted a big-bang firing order, which, ironically, gave them a less smooth engine. It also gave them more control in corners. It was all about corner exit speeds.
This may sound counter-intuitive, but allow me to elaborate. In a non-big-bang engine, when the rear tire starts to slip, the even, continuous firing events will push the tire past the point of grip. In a big-bang engine, yes, the power will be more unstable, but the time period in between firing events will allow the tire to find traction, thus making the bike easier to control on the limits.
Moving on, the flat-plane crank in a V8 gives you a cylinder firing exactly every 90 degrees of crank rotation, giving you a very smooth power delivery from firing event to rear wheels -- which is part of the reason why they can be revved so high. Another part of that reason is that unlike the cross-plane crank, the flat-plane doesn't need big, heavy counterweights. The downside, that is so often talked about, is related to the secondary harmonics. This is not specifically due to the lack of counterweights.
Here are some links for further reading:
http://w11.zetaboards.com/Motorsports_Mayhem/topic/8198547/1/
http://www.team-bhp.com/forum/techn...-sounds-completely-different-american-v8.html