Short answer: Yes
Long answer: Yes, but there are a few kinks. For instance the roms work perfectly fine without anything messing up. I for one have an m7att and was successfully able to flash roms between the att and ul variants flawlessly. However I then flashed philz advanced touch recovery on the ul forums and once I didn't like it tried to reinstall regular clockworkmod, however i was only able to install the ul version and now i can only flash ul roms. I can't reflash the att version yet because i can't use fastboot on my win8 for some reason so i need to wait til i can get my hands on a win7 again. Flash the roms but keep your recovery the same!