My instructor used to enjoy it, however he always trimmed slightly nose high and flew at relatively fast. That way any relaxation on the controls will cause you to rise and there is less chance of a gust in the wrong direction causing you to momentarily lose height.
Personally I haven't felt the urge, mindful of the floatplane drivers' occaisonal difficulties in judging height by eye as well as AAIB reports.
I also wouln't recommend doing it like
this More info
here and
here
Mike