That's not quite true... it's a crop factor. It means the image is
narrower than if you were to use a full frame camera. If you think
that a 200mm lens is really 320mm, fine, that's your perogative, but
it's not the same.
I'll take a 320mm lens on a full frame camera over a 200mm lens on a
1.6 crop factor camera any day. For me, it boils down to image
quality and better depth of field. I get incredibly shallow depth of
field with a 1.6x crop factor. While that's nice for some things,
it's not so good for others. Shooting macro, it's very tough to get
good depth of field with a 1.6 crop factor. A full frame gets more
depth of field. Also, with the extra depth of field, the chances of
an error are lessened with a full frame camera.
Find an online Depth of Field calculator, you'll find that they offer
the ability to pick focal length, subject distance, and then you can
select the camera type to see how depth of field changes.
Good luck.
What people do not realize is that ultimately they are making
enlargements from an individual pixel. A 1.6x sensor may have the
same number of pixels as a full frame, but the individual pixels are
much smaller. When prints are made, an individual pixel from a 1.6x
sensor would need to be magnified 1.6x times more compared to a full
frame pixel to make up the final print. Since a bigger pixel
contains a higher quality signal than a smaller one, the same sized
print made with a full frame camera will have better image quality
than the print made with a smaller sensor with the same number of
pixels. Better ingredients make for a better pizza, as one ad says.