Very recommendable! I have a 20 year old Diamond Back that is absolutely worthless to a theif, therefore perfect. I just stash it in the woods. It is most definately a time saver. I hiked the Bonds last Saturday. I only go about 10 miles an hour, but that gets me out to the wilderness boundary in a half hour. On the way out, it's mostly coasting.
I like this option because it makes longer dayhikes possible. Give hikers on the trail plenty of notice before you pass them, and beware of other bikers passing you! Last time, I was buzzed by two bikers who had to show how much cooler they were.