I know a guy who does this. He does a good job, too--no dye all over the place. But...well, I think it looks kind of stupid, and so does everyone else I know.
But would a stranger think it looks funny? I mean, we all KNOW that he's dyeing. That colors our perceptions. Er, no pun intended.
In the end, you have to decide what's right for you. If dyeing makes you feel better, then you can try it once and see how it goes. But do be prepared for people to rib you about it.