Here's an example of a page where someone's comparing enlarger vs macro lenses... so I think it should work just fine... I've been doing LOTS of 1:1 work on 4x5 with old sironars etc and the results have been quite outstanding (40x50 prints with TONS of detail)... I would encourage others to try...

http://savazzi.freehostia.com/photog...erlensespm.htm