i’m no Pro, but since i spent a lot time trying different modelling techniques
in blender it seems that applying the subsurface-modifier,
Take a simple cube made out of 8 verts, set subsurf level to 2-4 and then apply the modifier. Not the best example cause the modifier distorts the cubic form but, when you apply, the mesh is built out of the subsurf data.
So this will result in an increasing mesh density. Makes big model not even a bit easier to handle. So the negative effect would outweigh it in my eyes, but may depend on the purpose.
Theres a feature in Blender RC 2.41 called “Triangles to Quad”, should do what you are searching for.
But i haven’t tried it yet. Should be worth a look.
Another method is to select two neighboring tris and press “F-Key” for make-Face, if as far as i understand with my poor knowledge it recalcs the tris to a quad if the position of the verts allows it.
Give me a feedback how the Tri2Quad script works.
Hers the link