It would only be a bad idea for you if you have multiple devices to read from like some of us do, or if you regularly share your books with family. Depending on their devices, they may not like the line spacing.
If it's just you and the one reader, there shouldn't be any negative issues at all. Well, until you eventually need to upgrade your reader to another that will handle that line-height differently. You might then have to go back and remove all the line-heights you entered in those books.
For that reason, I'm generally just putting up with the too-wide spacing for now on the Kobo, still hoping they'll change the lowest setting at some point and make us all happy.
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