My opinion? There is in recording, but not in performance. I do--especially when I'm playing with a band--exactly the sort of dynamics you described. And audiences do like it.

The guys I ran into who had this stuff *down* were "Screamin' Gulch," a punk-rock band in Medford (OR) that played a lot of bluegrass songs (including some of mine); I was one of two lead guitarists (took two to keep up with 'em). They were almost instinctive about it. (And of course, no one ever expected a punk-rock band to understand volume.)

Joe