Joe24 I sincerely hope you never have to do an emergency stop if you use that technique!
A little over 70% of a bikes total braking force is supplied by the front wheel. If you are primarily using you rear brake to stop, you are seriously underusing your available braking capacity.
I hold the opinion that people become worried about the front locking up or being thrown over the bars if the front brake is pulled too hard because of either a childhood incident where they grabbed a handful of front brake and went flying, or that they have been essentially 'scared off' by other inexperienced cyclists.
It is nigh on impossible to lock the front wheel of a bike in the dry, excessive braking on the front will cause the rear wheel to rise, but that still requires massive braking force (or a ridiculously powerful brake as is fitted to my mtb)
Even if the rear wheel does rise into the air, the rider should be in enough control to modulate the braking force and either keep the rear wheel in the air i.e. pulling a stoppie, or to modulate the force just enough to get it to settle back down onto the black stuff.
Braking until a wheel locks then releasing and trying again is a rather sketchy technique, it is much more effective to slightly release pressure until the wheel is rotating again than to jam the brake back on again.
As with all aspects of riding - the smoother you are, the more in control you are and the faster you can perform whatever operation you are trying to do, be that cornering, braking, climbing etc.
Check out what Sir Sheldon has to say about braking
http://sheldonbrown.com/brakturn.html