In theory that should work but there are situations where it's just easier to be able to do the edits in Book View as I see something. For example, I set things up in InDesign to create page/xhtml splits based on chapters but there are often items at the front/back of the book that I want split to new pages/xhtml as well and it's exponentially faster for me to be able to insert the page splits in Book View as I see them rather than having to look for the specific spots in the coding.
I'm looking at Preview now though and see where it may allow some of that since it places me in the coding wherever I click on in the preview. When I've got the time to try out working via Preview, I'll do so but for now I may need to stick with what I know just for time's sake.