I started doing the same thing once I heard about/bought those orange lip grippers.
I've been taking all but the rear trebles off baits for years now and with the addition of those NEVERSNAG dual trebles instead of 3x, I think it's better for both the fish and my well being. ;)

I don't want to get all PETA here, but all living things feel pain/discomfort.
Taking a fish out of it's oxygen source and expecting it not to try and escape in panic/ self preservation is like holding a human's head underwater and expecting them to remain calm.

Part of being a Sportsman is having not only knowledge of your quarry but respect for it as a living creature that feels pain and wants to live.
I cringe when I watch people treat their game/fish without the basic respect they deserve.

If you're not going to keep your fish on a stringer in the water, then kill it with a blow to the head and put it out of it's misery.