I tried this as well for about 8 months and ended up going back to an external monitor setup. Why? Health reasons. The ergonomics of using a laptop everyday is detrimental to your posture. Being hunched over and looking down at a laptop all day is not healthy. You can still have bad posture with an external monitor but now these risks are avoidable if you are disciplined enough. With a laptop you really have no choice but to have poor posture.
Yeah. I do this, though I sometimes use an extra monitor depending on what I'm doing. The screen on the 16" Mac Book Pro is much nicer to look at all day than any reasonably priced external screen, and I find I tend to get a bit "dizzied" by enormous screens right in front of me.