While I often give highlight readings as much attention as shadow readings, I haven't tried Mortenson's technique as such. Sounds very much like "stand" development on steroids - parallel, perhaps, to the "aging" of food in Tupperware containers at the back of the fridge.
The technique does sound interesting, though, and potentially useful in certain circumstances. But, techniques, like tools, (I believe) should be used for the things for which they are effective, but not elevated to a religion.
The apparent conflict between Mortenson and the f64 boys strikes me as similar to the rivalry between the realist and impressionist schools in painting. Too much time spent narrowly thinking about technique, and not enough about producing images in styles befitting the subject.