I've considered doing this for NOOD too. My only reservations (other than my time) are some guilt about needlessly blocking an airline seat on an otherwise swamped day. No matter how you look at it, there's a good chance you are depriving someone else of that seat, even if you cancel the ticket hours before flight.
Were I to do it, I would pack an "appropriate" carry-on bag for a day-trip. I.e., a laptop and a book and my sunglasses, etc. Going through with nothing whatsoever (and having no checked luggage) might draw suspicion unrelated to the scope of the exercise.