Back in the day, around 2005 or 2006 I did that and I had browse the internet in a text based browser for 2 days because KDE on that old machine took two days to compile.
It depends on the site, back then there were a lot of table-layouts which were quite fucked up in the text-only browser. Nowadays there are non of them which is good, but nowadays there are JavaScript only websites which don't really work well. You can install a text only browser and try it out yourself.