I've done it a couple of times.
It can be awesome or embarrasing. The difficult part is knowing when its awesome and when its embarrasing.
My theory is to look at the audience.
If they're all sitting down and 50% are sleeping, then
stick to looking focused. But if they're all screaming
and jumping, you can start duckwalking all over.
Then of course i you stay still for 50 minutes and then
you start thrashing the guitar and doing windmills, that
might look kinda stupid.