I've tried sketching in photoshop/illustrator and the paper and pencil method. I get way more iterations per hour done on paper, but that's just personal preference.
As an aspiring minimalist, I agree with Dustin's premise but not in his universal application. I believe the goal is to maximize the utility of a purchase, including the cost of information.
Spending an amazing amount of time researching features and the subsequent benefits and the combinations there of are extremely valuable for objects or services upon which we thoroughly rely. For anything less, it is just as important give equally less energy, if any at all.