That's nice in theory, but in practice I find myself moving the rod tip almost constantly.
Dry fly fishing - From casting to mending, and when I'm following a drift the rod is usually low and parallel to the surface. I also cannot see the above being applied after a cast. Especially, if you need to pull the tip back after the cast to balance. This may cause drag, and poor line control afterwards. A lower tip also accomodates a better arc range in regards to setting the hook. The only time I would hold the rod high would be in straddling cross currentsto avoid drag, but I seldom do this - i just mend like crazy.
Streamer fishing - likewise my rod tip is close to the surface of the water for stripping.
Nymphing- I make nice arcs frm side to side as I follow the drift.
Euro Nymphing- I'm kinda new to this, and I think for French and Spanish your method may apply, but for Czech and Polish, it may get awkward. Then there is the question of reach, and varying depths.
I just can't see myself holding an angle to promote a balance point from an out of balance fly rod.
Can you provide us a video of how you do it? It maybe a technique I've yet to see.