I don't like it very much other than just for mixing it up occasionally.

If your opponents are actually that observant, you're going to have to keep doing it semi-consistently to get respect for it. On top of that, if you cultivate that image of passivity, when you hit and bet - everyone folds and you feel foolish.

In short, I'm not a fan of plays that get me more respect and make the table tighter. At least at the limits I play (<= 5/10) the payoffs on made hands outstrip the payoffs from bluffing by a fair bit. tossing a few chips out regularly on whiffs with overcards really helps in getting your monsters paid off, and you still have a few outs to get lucky.

thats my take on getting respect from your opponents. I'm sure others here will disagree.