No, because instead of using, for example [Level3Shift]-[apostrophe] [e], I either need to remember or look up é or, worse, look up whatever the numeric codepoint for it (and I forget if the latter is still encoding-dependent or defined to be a Unicode codepoint). There has to be a way to set things up so everything in the toolchain agrees on the encoding, and it's not like I'm using something obscure.