Yeah, for a long while, people who were pretty sure they had the track layout they would stick with for a long time did this. Its very effective, and by the time you decide to change things, its not hard to cut and retape in the new configuration. The only condition I would think important about it, is that you need to have the track solidly in place (tape, nails, etc), so the copper tape doesn't get shifted and wrinkle leading to tape that breaks and makes bad connections. Bad connections make for dirty, intermitant power, and that creates a host of new problems. I say nail it down tight, then tape it, burnish it, and forget it.
I have also seen some tracks that had each section of track taped individually, that mystified me. I don't know why someone would do that.