all but / close to

Can "all but" always be used in place of "close to"?

Example:
It must be close to empty.
It must be all but empty.

Thank you.

I live close to you.
I live all but you.

I see. What about my example? Possible but uncommon?

In some cases there are interchangeable, but not in other cases. Both are OK in the original example.

If you are using the sense of "almost", both "close to" and "all but" are usually acceptable and interchangeable.

Tony's example doesn't count, because he is using a different meaning of "close to", which is "near".