My native CO tried it with mulies about 20 yrs ago and it was an epic failure. They dropped it after a few seasons. They did the same thing with elk though and it worked pretty good. For the most part spike bulls are off limits in CO and we have a lot more branch antlered bulls than we used to.
Personally, I hunt for meat so the amount of bone on an animal's head isn't important to me. If it is legal I will attach a tag to it.