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The FAA most definitely recognizes the type...the FAA issues it, after all, and it's a privilege accorded by the Administrator.
The FAA does not "recognize" one type more than another; a type rating is a type rating.
Flight Safety in Atlanta now has 2 350 simulators. One is for the older 350's (whatever that is, I know nothing about King Airs), but the new one is all glass cockpit with all the bells and whistles. Hope that helps.