Hey if it works for you roll on. I know lots of guys were taught to dummy cord everything on, and there's nothing wrong with that. It looks exactly like what a grunt would do to keep from losing a bunch of expensive, issued shit.
My thinking is if that crap gets hung up somehow, I'd rather have it pull off than fuck up my neck. So if you're not active duty and afraid of getting dinged for losing it, protect your neck before your pocket book.
But I patrol in deep woods, much like Lowdown3 is talking about, so terrain and situation, as always.
One thing I think makes sense, is to "two-stage" the breakaway, by simply velcroing the lanyard to the cover. In that way, a simple snag might break the doo-dad loose, but then the lanyard might keep it on long enough to recover, or, actually break away if it's a serious snag that might tweak your neck. So it's a nice compromise between too little or too much.