Oh definetly. In fact if weight isn't at issue it might well be 'better' (if nothing else durability say). The squamish does claim to have a helmet hood though, which I slightly doubt if the shield would manage.
The weight certainly isn't trivial though because its 200 vs 140 for the squamish or 120 for a houdini. Thats not large in overall terms but, for the pedantic, almost enough to put them in different categories
(and it is a big percentage difference!)
For instance RABs alpine jacket is only 216g in Large with a really terrific hood etc.).
Edited: 29/05/2012 at 11:14