I want to believe that editing as you go comes to about the same as a quick write and a long rewrite, but that has not been my experience. When I try to edit as I write, I naturally progress through the story more slowly and that creates a problem for me.
At the beginning of the first draft, the story is nebulous and exists entirely in my head. It gains form and substance as I write. As I plow my way through Chapter One, Chapter 55 is distant, sitting out beyond the horizon like a hill on the other side of the mountains, existing in imagination. The longer I take before laying eyes on it, the more it slips away from me.
Most times, I am so anxious to give shape to the key concepts, scenes, moods of a story, I wind up skipping over entire chapters with bare notes or even no more than a title as a placeholder, so I can get to that fight scene, crucial dialog, or whatever. Because if I don't, it will fade like morning fog. Sure, sure, outline. I do. It's not the same. The outline is like some cardboard cutout of that distant mountain, an artist's drawing of it. I need the real thing.
So, the two approaches don't come to the same thing because the very shape of the story is different depending on how I approach it. For myself, a story is an elusive beast. I have to throw my net over it early so I know what I've got. Then I wrestle with it. To be less metaphorical, I'm in the messy first draft camp.