Yep, it's called "pulse and glide" (or "burn and glide" by some, if you hit the gas really hard). It's a technique that goes
way back -- I remember a
Popular Mechanics or similar from my childhood with an article about a test vehicle that got something like 1,000 miles per gallon by using a tiny engine and doing pulse and glide at very low speeds.
Search the forums for "pulse and glide", "burn and glide", and/or "P&G" and you'll find lots of useful information on the technique.
Pat yourself on the back for thinking of it independently.
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Rick
P.S. Haha, good going Mike, you hit your "Save" button three minutes faster than I did!