Here is an interesting video on the subject. I must say I have changed my mind several times on this topic but I am not fouling.
I agree with Mark’s point about not wanting to put it in the referee’s hands. 2 things can go wrong here, an intentionnal foul call, or a missed foul call that gives the offense an advantage for an open 3. You also have to make sure your players are disciplined enough not to foul someone that is about to shoot. Lastly, and this is the one that makes the difference for me, by fouling you give the other team a chance to win the game in regulation…where as not fouling the worst case scenario is overtime.
Obviously in both scenarios you must prepare your team to properly respond to the situation. I would rather use practice time to work on defensive concepts to give up no 3’s (Which we will use in other situations as well) as opposed to using time to prepare for a situation that may never happen in the season