Well I'm afraid I agree with Step turn on this subject, I've watched a few at my local doing it and it seem to be for the purpose of showing off, either "look at me" or "look how powerful my aircraft is". It isn't necessary to practice combat departures in a PA28 or the like.
I've also had a few cable breaks at low level, 50/100ft and yanking the nose up on take off is not the solution, quite the reverse in fact.