That's what I've read. It certainly reduces the spoiler effect, greatly, but since one candidate can knock another one to a lower level, there's still the potential for similar candidates to inadvertently sabotage each other.
I don't have a full understanding of the math involved, but that's what I read. One of these days I need to run some simulations of my own.
You know, I wonder what effect approval voting would have on parties. One of the functions of parties in the current system, the primaries, would be rendered unnecessary.
I'm sure it would mean that campaigns were more positive than negative since it would be more advantageous to make sure your own views and opinions got out there than to spend time and money tearing down a dozen other candidates.