Practically, these arguments are definitely justified. I mean, in all honesty: No one could ever reach up for example 
Night's level just by using his config.
But for me, personally, it has always been a great honour to use configs of good players not only to get an impression how they used to play, but also to try to get used to these settings.
I definitely confess that changing your settings too often can influence your aim or the way you play quite drastically.
But somehow, for me at least, it (most of the time..) derived advantage from using other player's configs.
I still remember the day when
teKoa sent me 
mystic's config from the cpc2 tournament. I was checking my mails like 24/7 and when I finally found the file in an email filled with a short information like "This is mystics cfg, hf with it!" I was instantly happy and on the way to try the config + his settings.
But somehow, I realized that this config was just not very different to all the other configs Ive tried before. Still, the thought of using his config made me playing with more ambition and motivation.
Night's level just by using his config.But for me, personally, it has always been a great honour to use configs of good players not only to get an impression how they used to play, but also to try to get used to these settings.
I definitely confess that changing your settings too often can influence your aim or the way you play quite drastically.
But somehow, for me at least, it (most of the time..) derived advantage from using other player's configs.
I still remember the day when
teKoa sent me mystic's config from the cpc2 tournament. I was checking my mails like 24/7 and when I finally found the file in an email filled with a short information like "This is mystics cfg, hf with it!" I was instantly happy and on the way to try the config + his settings.But somehow, I realized that this config was just not very different to all the other configs Ive tried before. Still, the thought of using his config made me playing with more ambition and motivation.
And then, i tried cfg from good player as lettu, mAus, butchji mainly, was like 'omg its easier''
And finally i tried again my cfg homemade and felt like: god, cfg are so useless, if u are good, u will be good with any cfg, sensi, and every others settings :-D
some ppl dont even change a settings for years, while others need to change cfg every weeks when they have a 'bad day' :P
once u desactivated basic settings ( as cg_bobroll, draw explosion, foliage etc ) others cvars are for ur own taste, so its useless to play with "X" players cfg to aim better etc
2)Use the time needed to tweak it
3)Profit
4)????
ALL WRONG MAN
btw, using ur config since few months, won't change it, but I use regular dot as crosshair
shared this awesome story now bro
If you have a favorite player and want to play like them, using there config gives you a good psychological boost saying 'this is what they use!'. Yet again its a lot of placebo effects and when that placebo disappears people seek new configs and adjustments, then it starts all over again.
you = no oldschool hehehehe
most downloaded config ever!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
PFF
>_>
<_<
I feel your config whoring pain. That said, I agree with you, it's mostly a placebo effect.
SHOUTOUT TO U96D AND MARAUDERS
good game
(when etconfigs.com/net was still alive >3500 downloads)
//admincheck
Learn the game, not the engine.
Well anyway I guess you are right.
:DD
For example tweaking your r_stencilbits and muzzleflash settings makes it possible to see shooting and dynamite through walls from a distance... There are more useful cvars out there but I got bored pretty fast with switching parameters.