Yes, in some of the groups I ride with, there is an expectation that people take measured turns of 3-5 minutes, like Carbonfiberboy just mentioned. Generally, those are somewhat faster rides, and it is the most efficient way to distribute the effort. On that kind of ride, you don't actually want people taking the sort of long pulls that I described in my OP - it actually slows things down b/c the effort up front is too great for people to sustain it for, say, 5 miles. What I was describing was a less intense effort, overall.

In both scenarios, pulling in front of a group that stays tight on your wheel feels great.