Yes no and sorta
.
Coilovers alone only get you lift, just like a spacer...but the "spacer" on the coilover is a threaded collar, so you can choose the ride height you want.
The benefit of a coilover alone is (usually) much better valving and a higher spring rate, which you'll need offroad and hauling stuff. If you never plan to do either, get a coil rate similar to stock or risk running too stiff, which does damage your truck in the long run.
Neither spacer or coilover alone will change the amount of travel you have, but if both use stock length shocks, you will lose extension travel for compression travel and the truck will feel like a ton of bricks over every bump.
The beauty of the Camburg kit (and the Chaos arm, as modeled by Woody
) is the arm allows more suspension travel, and the coilover has a longer shaft so you can actually use that travel and your ride will be effectively like stock, assuming you use a similar spring rate.
Camburg does rebadge a SAW, but they use an internal limiting block on the long coilovers, they do have a pretty trick mounting adapter, and you'd have to ask if they revalve or just use stock SAW valving...but it's not quite just a rebadge and markup, you do get a few things from Camburg. The adapter on its own is pretty nice, and IIRC if you get the kit you also get a set of Dirtbagz to protect the new shafts.
And definitely look at Woody's threads about his kit
. Go for the whole kit from Burg, the arms and the coilovers. You won't be disappointed. Or, go Chaos and SAW or Donahoe...either way, same result and great performance.
-Sean