Question about spoofers

I read up something about having these spoofers for CFW that prevents your PS3 from accidentally updating right, by making itself look as if it has a higher firmware.

But with these spoofers, does it mean that you can play games equivalent to the version the spoofer is showing?

i.e. having a version 3.7x spoofer means you can play games that require version 3.7x and below.