It would mean that wet bowls could be turned great deal thinner and they will dry them in a shorter time - If it works.
One thing I have noticed however is that the wood will move a bit after I finish turn it, so you want to finish up in one go. I'm not talking much here - maybe a 32nd, but enough that if you're putting any beads or similar around the rim you need to do it right away.
I usually rough to about an inch - I could probably go smaller, but the extra gives me design options.
To stop a bowl warping , place a stick exactly the length of the diameter across the bowl. I have not done this very often, but it has worked. Another trick is to take a piece of plywood or MDF, cut out a hole equal to the outside diameter of the bowl and encase the rim of the bowl with the plywood hole.
A further technique is to just use a very large hose clamp, possibly two or three of them connected together.
I worried about relaxation after removal, but it doesn't seem to be a factor. I don't turn them a great deal thinner - no less than 7-5% of diameter versus 10% standard.
You still have to be careful of some figure, for instance around branches. I've had them warp opposite my stick and open up in the feathery part of the grain. I leave the complicated figure at 10% and don't try to restrain it now.