Matt is totally right. If you have multiple posters, then there is nothing holding them back with this hack. But if it's just you, or you don't have to worry about potential author trouble, then this would work.
But you also lose security protecting your weblog from yourself. If you don't write safe code (like taking input from a user without checking it for quirks/hacks) then that could bring your post, entire weblog, or maybe even server down. This is the reference to Pandora's Box... :(
WordPress itself is quite secure. This doesn't make it any less secure, but offers that possibility. Just make sure you know what you're doing and question every line of code.