I've never seen the point. There are so few occasions where an extra 50 to 100 fps is even going to be noticed.
My dad has been known to do this. I can remember tapping the bolt open with a rubber mallet shooting his 06, and the one time we convinced my sister to shoot a centerfire rifle bigger than the .223, she touched off one of my dad's .270 Win handloads in my .270 Win and it blew a primer. Both her and the gun was fine as Remington wisely engineered a place for the gas to escape in just such an occasion, but she hasn't done much shooting since. Now, incidents like that were very rare. For the most part, his loads are at least safe, but sometimes he does seem to willing to approach or exceed loading data maximums for the sake of a few more FPS, and I just don't get it. Aside from the obvious risk to the shooter and his equipment, I can't imagine it does anything for brass life. I spent a lot of hours wondering why I was staring at the ground looking for this brass when he was only going to get one or two more loads out of it anyways.
I like to be near my cartridge's capabilities. If I didn't appreciate the ability to shoot those long, heavy for caliber bullets at some decent velocities, I wouldn't have bought a 7mm Rem Mag. But I reached 2960 fps from a 24 inch barrel with my 160 gr Accubond handloads, which were 10% below max IIRC, and realized that it was shooting tiny little groups when I did my part, and I considered that adequate. I am more concerned with accuracy than an extra 50 to 100 fps. That is why my dad hasn't started loading for my M1A yet. I love my M1A. I think I'd run into a burning building for it. Not only is it a sweet rifle, but it was essentially the last thing my mom got me before she passed away. I don't want to blow it up. I don't have the equipment near me, nor the time and opprotunity, or really the experience to load for it myself, and I don't trust him to want to approach some record velocity barrier that I am not interested in. So I feed her only factory fodder for now--mostly WWB 147 gr FMJBT.