I did this off and on for much of last year and only recently got a solid place.
While it does seem fun and is at times, it also has some serious pitfalls and things to consider.
1. Everything is in storage but you are not near storage often. Consider how you plan to access more clothing (seasons change, styles get old) and other important items.
2. How will you handle not having your personality? Unless you are staying in one place for a few months it's not logical to bring personal items with you and over time you come to miss them. Poker night without chips isn't the same.
3. Friends. As a serious traveler you no doubt know people here and there but without a central location for weekends it's like moving all the time. Seeing people is easy once, hard after that. And it draws on you.
4. Address. This is a simple but important one. You need a silent po box (suite #) so you can get mail and be sure it's safe when you're away.
5. Kitchen. Yes you can eat great food for cheap but 200 days without your favorite pasta or a simple bowl of ice cream for less than $3.99 stinks. Keeping things normal is key to not going nuts.
There's other items to consider but really what it gets down to is excitement versus the reality of not having any place to store the shot glass you got in the airport, no favorite glass for your drink of choice and no way your friends are going to show up for the big game.
On the other hand you're free and not just paying for a place you never see.
I say why not try it for a month. Its a little money saved and the first few weeks were a blast (fun places, exciting times). After that you can reevaulate easily. It's not like getting a place is a long process if you're ready to settle back.