Hello,
Yes, they are equivalent. The censoring regressors, where each only includes one value of 1 at the time point to censor and the rest of values to zero, can perfectly model signal at that time point. For instance, if the value of the time series is X, the weight of the corresponding censoring regressor will also be X so that the fit is perfect (i.e. no residual). In addition, "killing" time points will reduce the number of degrees of freedom in the very same number as adding an equivalent number of censoring regressors.
Hope this helps,
Cesar