I haven't done it with a puppy, but it's how I helped my rescues adjust. None of them had terribly bad habits. (Ok, the JRT/Fox terrier had some rather bad habits because it was too smart for it's own good) but I think it just helps the dog get used to you. It also keeps the dog up and exercised.
Ironically, I found it kept the new dog out of the way more than anything. New dogs don't know where to sit, where they can walk, they may not know the texture of the floor or the smells of the house...while some are recluse, others are perpetually in the way.