This is an interesting topic and has seen the light at APC extensively in the past. Some of the higher profile folks here carried a long and thoughtful thread about this in late 2005. It is actually one of the reasons I joined APC, these mutually respectful debates aimed at deeper understanding. I would dig up the thread but server changes have made that kind of hard to do.

FAA law for the regulation of the commercial aviation transportation industry is administrative law; meaning that it differs from other types of law in that the FAA generally has the right to decide what it wants a law to say and do. Very rarely do the non-FAA courts get involved and when they do it is because there was a bitter dispute over a punitive action.

On a practical level, as long as you stick to the standard paths for time building as a new commercial pilot you will rarely encounter any trouble over how you are using your certificates.