I did it for a while (platforms, I still had a front brake just in case) and sort of liked it more than the clips I have. Mind you, my clips are cheapys with plastic toe parts, and nylon straps. I only payed like 19 dollars for them, though.

The only difference is if your foot slips, your feet come off the pedals and you eat ****, badly. It happened to me and I switched to clips.