Does SETCpu at 246 = Phone Sleeping?

[JeffKay]

Ok, I downgraded 2.2 and flashed clockwork and rooted 2.2 stock. (way easier then I thought it would be )

I have a profile with setcpu for screen off = 246 Mhz (the lowest)

I rooted because I had trouble getting my phone to sleep, thus battery life was awful.

So is SetCPU at 246 with screen off equivalent to the phone sleeping? IE does the increment the sleep time figure on the phone.

Thanks
Jeff