Five minutes of Google:
(This guy wants to sell you some... Hmmm.)
"The 12Bz7 is the exact pinout as the 12AX7/5751/12AY7/12AU7 family of tubes and can be used as a direct substitute. The 12BZ7 was a television set tube that has the exact same gain as a 12AX7 and is similar in all respects EXCEPT it has a bigger plate with half the plate resistance of a 12AX7 so it has TWICE the plate current which equates to better drive SLAM! It s a little secret amongst tube replacement gurus. It has a bolder more in-your-face tonality about it vs the 12AX7. In fact if you tied the plates of a 12AX7 together to run both triode sections as one you d have one section of the 12Bz7. Great tube that s not well known. The sleepers sleeper! Get them while you can because they will be more well known someday! If you like that more aggressive bad-to-the-bone tone...THIS is the tube you want!"
(Hi-Fi snob guy...)
"The 12BZ7 is NOT a substitute for the 12AX7. The 'BZ7 draws 2X the heater current. If that's not bad enough, the very different electrical character finishes things off.
Pin out and mu are the ONLY things the 2 types share."
(More Hi-Fi guy ex-pur-teez...)
"A 12BZ7 is roughly equivalent of taking a 12ax7a and cascading both sides together, ie, both grids, both plates and both cathodes, so you have twice the transconductance and half the plate resistance. The guy was right when he said the 9 pin base is about the only thing the two have in common. So all the EQ circuits now have the wrong time constants, the feedback if any is now wrong. Everything is now WRONG if you stick a 12BZ7 in a 12AX7 socket."
"You have to completely redesign for the 12bz7. It requires much lower value of Ra and Rk when compared with a 12ax7. If placed in most cathode bias circuits using a 12ax7, it will hum loudly. It has more crude construction than a 12ax7 with taller spacing rods and much fewer mica insulators. It is much more microphonic."
Thanks, but I'll pass on this one. Wouldn't want to risk ruining the time constants in my EQ.
But, of course, YMMV.