Yes, that's how I understand the tables/charts to work. The charts for the fittings indicate what the equivilent in feet for a fitting, then you use the pressure loss for the type pipe you are using.
So as an example, let's assume that for a given gpm, the tables tell you that a 90 elbow = 2ft and pressure loss is 5psi/100'.
You run a pipe across the front yard for a distance of 50', then you turn 90 to the right and go strait for 10', then you turn 90 to the left and go strait for a distance of 5' (your trying to go around an obstical), then you turn left for another 90 and go back 10', then turn 90 to the right (so that you are back on your previous course). You then have to go another 40' to reach where ever you are trying to go.
Total distance is 50 + 2 + 10 + 2 + 5 + 2 + 10 + 2 + 40 = 123ft
123ft * 5psi/100ft = 6.15psi pressure loss.