What you describe is called "bore cutting", it has it's uses, you noted one of them. Often enough it is over used and is often taught as the safest way to fall trees, Using the bore cut requires a lot of bar tip contact, kickbacks can occur, you also spent too long at the stump dabbing away. Getting all cuts lined up properly is one of problems I have seen. The GOL advocates believe this is the way to fall trees, all trees. It is a way to avoid barberchairing a heavy head leaner, but there are other ways, simpler, faster and safer. I have used the bore cut, but rarely, it simply is not required very often. The term plunge cut is used more for bucking, you ream with the bar to avoid getting caught in the bind. I was taught to only use wedges for falling.