It just sort of ensures you’re not dragon meat before reaching Level 5. And since most of the beasts in Elder Scrolls games level up along with you, using this strategy is not exactly tipping the scales either way.
That may take some of the fun out of it for a lot of adventurers, but personally, I don’t think any of my own characters would be taking on dragons until they were seasoned in their particular combat focuses. So you can run around the entire map while persistently leveling up your character, and you won’t have to worry about those ominous wings flapping overhead. Note: Until you complete the “Dragon Rising” chapter of the Main Quest, you will NOT run into any dragons in Skyrim! It’s true.
Then, with the awesome Aela at my side, I continued into the first leg of the Main Quest. I ignored the Main Quest altogether until I became the new Harbinger of the Companions. Whiterun, centrally located in Skyrim, definitely provides the best base of operations for any warrior-like character, and it’s certainly no coincidence the first several missions in the Main Quest are focused around Whiterun and the Dragon Reach. With my Barbarian Nord, I completed the primary quest line for the Companions (still need to complete a couple radiant quests).