Yes and no:
You guys are over simplifying this...
Yes, a 50 + 50 /= 100 mph crash. That is assuming you are both driving cars of equal mass.
If you hit a semi going 50 and you are going 50, the semi wont have nearly the same amount of (de)acceleration as the car does.
Conservation of momentum:
http://en.wikipedia.org/wiki/Momentum#Conservation_of_linear_momentum
A 50 + 50 mph wreck would only equal 100mph IF the vehicle you were hitting were of infinite mass.
I can assure you that the jeep in the above picture expirenced a wreck far more damaging than hitting a wall at 50mph. Without doing the math, this wreck was probably closer to hitting a wall going 70 or 80 mph.