Personally, I wouldn't do it. Because you are out of gear, you have reduced braking abilities (slightly) and also you actually use more gas.
I got into this discussion a couple of years ago on another forum and one member pointed me to an engine component that I was unaware of at the time.
Of course, I can't remember what it is called, but when you are coasting in gear, it actually cuts off your fuel, when you are out of gear, you're still using fuel.
I know I sound vague, but I can't remember the name of the engine component to save me.
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