This strategy would actually work at choke points.
My advice: Boom to capture around 5 planets and "build it up and stay there for a while" at your border planets. Make lots of defenses there.
FrickenMoron, you're correct that this strategy is limited. It requires "ideally" a single choke point.
Tanker, I think your strategy would work well so long as you were able to acquire enough (4-5) planets and build enough (3+ hangers and 4+ turrets) defenses at the choke points. Also, you will need to scout your enemies fleet constantly to be sure you knew from which angles he could attack... you'll need to keep your fleet positioned to counter his attack. I think this strategy would work great with vasari dark fleet in much larger maps or ffas where people hold back before they attack. In smaller 1v1 type games, this is fine so long as the goal is to improve economy for the purpose of massing heavy cruiser type ships. Additionally, turtling is great vs. pirates. With this strategy, you can let the pirates attack you and eat up experience for your cap ship. If you can get your cap ship to lv 6+ before your main battle fleet engages your opponents, you could potentially slaughter him with the right timing of cap ship deployment etc. Again though, limited. In small games it is typically better to blindly mass LRMs and rush with them (this tends not to work if your opponent knows what to expect though, not good vs. experienced players).