I don't know if its appropriate to say one efx sounds like another just because there are similar components used. Changing a cap value can reduce the amount of low end for example and that can translate into a crappy pedal to someone, and a useful tool for another person. Changing the chip can change the overdrive characteristics in various ways - small or big, up to the player. Even the true bypass argument cannot hold water for some people.
yup.. im curious to know if anyone has tried the cool cat, or maybe compared it side by side with a timmy. i think most pple are excited about the prospect of getting a timmy for much less money than the original.