I wouldn't do it to my car, but I think it looks really cool.
Gives the appearence that it's polished aluminum. (I know there's more than one AC Cobra out there like that).
I'm not sure, but it seems like I remember a bunch of Pontiac engineers got together and campaigned their own Trans AM car, first it was a 64 Pontiac LeManns, then later a Firebird, and I think they did the same thing to their race car. Until it was outlawed by race officials for being too dangerous because the "glare" from it could blind another driver.
I'm sure the same thing could happen on a public street, with even higher consequences.