I save a lot of money that way, and all other things being equal, I do believe it's best for horses to live as naturally as possible.
That said, it's interesting to see that Houston switched all its police horses over to bare foot several years ago, and has found that the horses' health has greatly improved. They have even seen a reduction in colic cases. It looks to me like there are other variables, like a new facility with turnout continuously available--probably the most important thing you can offer a horse. The switch was done thoughtfully, on an individual basis, and lo and behold, the hoof that evolved for plains and tundra is pretty decent on pavement too. Good to know!