I probably do more than I should on my Sennheiser HD280s, but I ALWAYS go back to the monitors and check my work.
Most of the time I get away with it because I know the headphones, and the type of work I'm doing is predictable and familiar.
Stereo perception is the most problematic area.
When you use speakers, each of your ears can hear each of your speakers, but with headphones each ear can only hear one speaker; There's no crosstalk.
This exaggerates the stereo image. For that reason, I wouldn't fancy treading new ground with headphones alone.