Yes, but you lose access to any user interface components you don't paint yourself, and you can eat some lag/flickering when switching out of the app as control

Yes, but you lose access to any user interface components you don't paint yourself, and you can eat some lag/flickering when switching out of the app as control is returned to the compositor. If you end up needing to show the Open File picker from the OS or pop up the Print dialog you'll need to exit exclusive mode.