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For instrument training (I assume you mean), you need both. But it is FAR better to practice most of your IFR engine out work in the sim, just to reduce wear and tear on your engines. And like all simulators, you can be moved at then end of one approach to beginning of the next, saving the time of motoring through the sky to get there. In the short amount of time I have for this reply, I can't do it justice, but for part of your initial instrument training and for recurent training, RTC is highly recommended.
Kevin
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