Your finger muscles are very small and weak, I don't know if I would want to depend on them for my technique. Plus, I can see this leading to some muscle strain or arthritis down the line, cause you really are working those muscles. If your one of those guys that plays 5-6hrs everyday I could see this becoming a problem.
An then there's the endurance factor. Would you be able to play a line that goes from your 1st str. 12th fret down to the 6th str. open back up to the 1st str. 12th fret without taking a pause using this technique?
The bottom line is that if it works for you, and your happy w/it, and your able to play what you want to play without any frustration then cool.