The major downside to this method is that the car no longer rolls. So it probably needs to occupy the lift for the entire time the engine is out, unless you're going to put the body on a dolly and haul it away for body work. Usually fine if you own the lift, usually not fine if you don't. And yeah it is more things to disconnect.
You can easily build some wooden stands that you then place on a wheel dolly and voila. Car rolls again with no front end.