Yes for the most part.
SW - bones, small stripers
FW - big trout, bass, GL steelhead
SR - small steelhead, small salmon
SW - big bones, stripers, baby tarpon
FW - bass, pike, alaskan rainbow trout
SR - atlantic salmon, searun steelhead, coho/sockeye/pink salmon
SW - stripers, small tarpon
FW - pike, southern bass, smaller muskies
SR - king salmon, chum salmon
But things like fly size, wind conditions, salt-corrosion resistance, cork quality, reel seat quality, durability and power are equally if not more important than versatility in salt situations, IMHO.
IFFF Certified THCI @ 2005
Capeflyfisher Guide Service
Island Hopper, Guitarist, Incurable Dreamer
and Founder, Worldwide Flyfishing Forum