It's anidea worth trying out
The biggest issue I see is keeping the work flat to the table so as to get a constant depth "V" groove. The biggest advantage I see is there is only one piece of material with 3 hinges and a miter joint. Less slippage and chanches for misalignmen and making the glue up easier.
The 1 degree cutter differences stand out to me because whoever came up with the idea probably ran into a "fitment" problem and the joints would not close completely.
For a small shop making a number of small boxes I think it would be perfect.
The answer to your question will only be as detailed and specific as the question is detailed and specific. Good questions also include a sketch or a photo that illustrates your issue. (:< D)