Yeah, picking a tubular in the aforementioned way can be the ground s of much mischevious doings. I wouldn't recommend doing this, but just imagine if someone went to open their bike lock, and foun that their key didn't enter the keyway!
"How odd, it looks like it is only turned a little way!" they my ponder.
Just a thought, don't do it please!
Always finish your jobs, and like mentioned before, if it ain't your lock, what are you doing picking it? (unless you are a pop-a-lock dude on the job)
*oh.. i side note, if you find picking it this way a little easier (I get more tactile feedback by not using the tubular lock pick), you can always pick it w/ wrench and straight pick, then tune an ACE pick to the setting. This is a little tricky, as if you turn the plug too much, the same problem occurs with the "hypothetical" bicycle lockout situation, and you can't get teh ACE in.