Back when I did a lot of wrenching I found I could do the same thing. If you use the correct size wrench (probably don't need an 18" breaker bar on a 1/4-20 bolt, for instance) and just pull normally with your fingers, it's surprising how close you can come to the correct torque. Of course, I don't encourage that method for anything other than non-critical fasteners. And I definitely don't encourage another method I've seen, where you tighten until the part squeals, and then back off just a touch. (No, I'm not kidding, I actually worked with a guy who did that.)
As ultrafxr pointed out, when you're dealing with threaded aluminum parts it is best to play it safe and use the torque wrench.
Jerry
I totally agree! No loctite on the riser bolt just exemplifies it...