I am still in my "academic days" and just like you I try to push code into my public repository from the start of a project and onwards (https://github.com/ninjin/). The only limitation I make is that I generally want either a test-suite to run or a set of experiments to run before I make a push (not breaking the main tree). I also try to have a Wiki page where I write daily updates and results, sometimes correcting claims I made on the very same page earlier.

I think it is good practice and it makes the paper writing much easier since you can back-track the process. The only experience I have had contrary to yours is that all my colleagues have some sort of envy of my idea, but they just can't do it themselves because of stage-fright, lack of time, etc.