no it isnt o.k for 1. you receive and send calls and texts more slowly and 2. it gives you the illusion of saving battery when you send calls or text but in reality it takes more energy because the radios are switching on and off rapidly and it takes more energy to get the circuit going than it is to keep it going! (Newton's Laws!) <---- (cant believe i got to use one of his laws about a android phone!)
3. it causes wear and tear on the motherboard because when a circuit starts it starts off with an over charge to get it going,thus causing wear and tear on your circuitry and mother board ,because of the rapid heating during the switching on and it cools down again when your not using it, then it starts all over again causing accelerated wear and tear ,thus, decreasing the life of your phone
so it's doing more harm than good, by making your phone slower, and the electrical "Spikes" that are killing your phones battery ,and causing added wear and tear on the motherboard
Hope this Helps!