Someone at my LYS did that on a pair of socks-- that is, use a one-size-up needle and kept moving around so that on each round, a different quarter had that needle. You could tell-- the sts were slightly looser. Not by much, and when worn, does it really matter?-- no. But it's not something I would do. Here IS what I do: only purchase needles that come in sets of 5 or more. Susan Bates (I think it's that company???) has a set of sock 20 DPNS: 4 sizes (1.5mm, 1.75mm, 2mm and 2.25mm), each with 5 needles. The whole bumch is $10. Also there are the sets in either nickel or Harmony wood from Knitpicks, or the square ones from Kollage. . .
Even though I only do socks with 4, I need that 5th one when I pick up the heel sts for the gussett-- can't manage to get all of them on 1 needles, so I do half on one and half on another, and by that time, I've got 5 needles going. I think thesuits who decided to put 4 in a pack weren't knitters!