Scott, in your scenario it absolutely makes sense... though if you're running Exchange enterprise, you might consolidate all remaining users onto a store and simply delete/recreate the other (now empty) stores.
Nino.. thanks for putting this up. We often see this question in the newsgroups and occasionally someone will dredge up the 5.5 book contributed to by MCS which recommended doing this periodically. (Blech)
I do often run these utilities against databases while practicing my restores just to verify there aren't any issues, but have never run them against a production server (unless there was a real need) other than one time where I had a situation similar to the one Scott mentioned.