Can I use iTunes Match for 2 iPhones with different music, same account?

Anyone able to help with this question?

If have have access to the whole iTunes library from my iPhone using Match, how do I only play/list the songs I want on my iPhone? Say for instance if I want to shuffle all songs on my phone, which I do frequently. Is there a way to tell the phone not to use all songs in library, just the ones I choose, or the ones that were on my phone before I started using Match? If my phone can see my whole iTunes library I'm not understanding how it can segregate only the songs I want/had orginally on my iPhone.

I think I'm getting it finally, thanks for the clarification. So at least I know there is a way to not see all music in my library from my iPhone.

So in my case i have about 800 songs on my iPhone out of about 1600 on my iTunes library. If I'm understanding correctly I would have to enable Match on my iPhone, then turn off the "show all music" option. This in turn should leave me with my original 800 songs listed which I woud then have to download from the cloud. Once I have all of my 800 songs back down from the cloud I won't be required to download them again from that phone.

A worse scenario would be that I enable Match, and then have to find my 800 songs out of the total 1600 manually from the list and then download them from the cloud.

Which scenario is correct?

Very good, thanks for the help. Still not positive I'm gonna try Match yet until they work out the kinks but its good to know its possible for two iPhones with different music from same iTunes library.