Rave, funny, but I actually do the opposite. I find that my "touch and go's" will turn into a bounce as I get fatigued on the set. So for instance, when I'm doing my set of 3s, I will touch and go until I feel myself with the urge to bounce it(say around the 6th rep), then I will reset and do a couple of more from a dead stop.
I think touch and go's are fine, but I also think that what many people think are touch and go's are really more of a bounce. The problem with bouncing is that any back position problems you start having during the set can't get corrected until you do reset. So, in short, touch and go's, fine. Bouncing, bad.
edit I just read what i wrote and it read to me like I was criticizing what Rave said. Or saying that what I do is better. That wasn't my intent. I was just saying how I did it.