Bluskis, I asked the same question of my instructor once and when she'd recovered from the shock explained:
What if when you pull the handle nothing happens?
Or the flaps come down asymetrically?
Or you miss the level and have to look down inside the a/c
Or you accidently pull the gear retract (in a retractable, obviously)
Mind you, {anorak on} it works well in FS2000 {anorak off}
big.al - If I'm ever allowed to fly into Netherthorpe, I'd be very tempted by this technique!
PS. Or what if you're in a C150 - the flaps would just be extended by the time you turned downwind