Yes, in theory. But to be honest with you I would not recommend messing around swapping payloads and making new PUPs as a noob. The Cobra payload is one of the only things on dev_flash that can lead to a full brick if you get it wrong, afaik there are no fail safes included in Cobra 8.2. At the end of the day you would only be saving saving yourself the bother of running SEN Enabler.
Also PUAD has issues repacking Cobra PUPs afaik, it breaks PSP and PS2 ISO support or something like that due to changing file permissions.