Is pulse & bleed a valid technique?

[MetroMPG]

Anyone have any info or experience on whether this would offer a net gain over just cruising at the same average speed?

I tend not to P&G on long highway trips to minimize wear on the car (and the driver).

But I've often wondered if this "mild" form of P&G would be productive: Pulse up, then bleed off the speed holding a relatively high instantaneous MPG readout for the duration of the bleed.

You can sustain a high-mpg bleed much longer than an ICE-off coast.

But is it enough to offset the FE hit from the pulse?

Anyone looked at this methodically yet? (I'm just being lazy about running the numbers).