If both amps have linear response, low output impedance, and low distortion, and you never actually use more than 100 watts, then yes, the less powerful amp should sound just as good.
(This is kind of the idealized generalization; the speaker/amp interaction is anything but simple, but most speakers are not difficult loads. Most audible differences between amps relate to being overdriven, unable to reproduce transient peaks cleanly. Some lesser amps, such as in AVRs, sport protection circuitry that results in rather ugly recovery from clipping conditions, too.)
And to Dave B, an amp shouldn't have any particular sound of it's own whatsoever, and fortunately very few do. The ones that do have a distinct sonic signature are invariably pretty far off the reservation of engineering orthodoxy (for example First Watt amps from Nelson Pass, and the whole tube realm).