Avbug is right!
I think what Avbug is trying to say is that bumming around in a duchess/semenhole/anything while another instructor is sitting in the front with you, is just another number in the logbook. This kind of 'time' is good for building 'time' to put in your logbook, but is not good 'experience' to cut it in the real world. You're never going to get hard IFR, Ice, or any real challenging situation from renting a light twin. Flying around under the hood even if you're IFR (probly not IMC in FL) isnt going to make you an experienced pilot. CFII'ing with a student is not going to make you 'experienced' no matter how many practice approaches/holds/ground school sessions you get.
An 'experienced' pilot is someone who has done it for real, hundreds or thousands of times. Under adverse conditions. Under pressure. In real aircraft (not practice twins). In real, real bad Wx.
Chief Pilots and insurance companies and other real pilots know the difference. You can have all the semenhole time in the world putting around VMC (meteorogically speaking), but its not gonna make anyone think you are an 'experienced' pilot. It might help land you a job to become an experienced pilot, but you must understand it's just a number on your resume. That number can mean something; or it can mean nothing.
Like I said in a previous post, I think the only way to become a strong, confident pilot is to fly single pilot IFR. Freight, charter, anything but buying some numbers for your logbook will make you much, much better of a pilot and much more respected in the pilot community. Myself I would much rather be a well respected member of the pilot community than be referred to as the 'wonderstick' that landed a 121 job after 300hrs of Dual given and a degree from a fancy flight school.