Our home brew club presented a demonstration brew at a local farmers market over the weekend. I'm the only one doing all grain brewing, so we decided to do an extract brew. (plus we only had three hours)
So a guy comes up to our booth, who obviously knew a little about brewing. We were steeping the grains at that point. (crystal 20, 60, and some Victory) The guy was stating that steeping during an extract brew is the same as mashing during an all grain batch.
I tend to disagree, because I know some grains just can't be steeped.