that's what a few people do in my league as well. unless there's a guy I would consider picking up anyway, I usually don't employ it, but you can't really complain about it. it is fair.
anyway, we did make a change to make this practice not as profitable: I'm in a 10 team league and this year we added 2 more roster spots to everyone's team, making the FA pool that much shallower. like Jack in a Box said, if someone wants to throw Gil Meche at me 2 times in a week, feel free. in fact, I would encourage them to.
Yanks in '08!