I will preface this response by saying that I am relating almost exclusively to mule deer as we have few whitetails near where I live.
I personally don't see anything wrong with the long distance shooting, given a few conditions are met. #1 you are competent and proficient at the yardage you want to shoot, #2 deer is unalert and unaware of your presence, #3 no wind, #4 completely broadside, #5 clear wide open shot, #6 deer has been ranged accurately. In short, everything has to be PERFECT. Personally I will shoot to a maximum of 70 yds, and many members of my archery club are about the same, routinely taking shots at 40, 50, 60 and 70 when warranted. As far as the extra time to jump the string issue goes, what we have found is that at 50+ yds they rarely react, even after the hit they often take a couple quick steps then stop to look around before they fall over dead. The most extreme example of this that I know of is a fellow in our club who took a deer at 107yds. He has more than enough KE for the shot (got complete pass through), practices this distance A LOT and is VERY accurate with no wind. The situation was perfect as described above, so he took the shot. At the arrows impact the deer skittered a few steps, stopped, settled down and began to feed again before falling over dead. SO.... If you TRULY know you can doit, I say go for it!
Just my Opinion
Chris