For my only foray into the topic, I'm with jwible, Rjorge, caloso, & GA's team mate.
or, you could read the long version:

I used to be a club kid, (5ish nights a week?). I kept my bits to myself, and called everyone similar names, no matter what their fun bits looked like. I don't censor or look down on people for choices they make - but in my experience, it is very infrequent that promiscuity leads to what Maslow called "self-actualization." I'm completely serious - there's no looking down on them, but common trends are common trends, and it is hard to watch people I love go down roads that I have only seen end up in a small range of places.

Having lived across a variety of cultures, there are a wide range of cultural norms that are held to be "normative" by different people in different places. I'd say that rarely is serial promiscuity a symptom of a healthy mental state and positive self-image... and even if it has been done or is "normal", it isn't a mode of living that seems to reinforce safe and overridingly positive messages about oneself.
My roomates/housemates/close friends/others have made those choices before, and I'm not going to tell them that my way is right and theirs is wrong. That said, few of them find it to be continually good for them over the course of extended time periods.