Good deal, glad you're back up and running. I wouldn't call it a frequent occurrence, but deleting the preference file is useful at times, both when you can't launch, or if some settings or behavior simply seem to have gotten out of whack.
The downside is you lose any changes you've made to the default preferences, and style sheets and colors you've added, etc. So if you do take the time to tweak things the way you like, it is a good idea to quit the application and make a backup of the preference file afterwards. Then if you have an issue like this, you can try putting in a copy of that backup rather than going back to the defaults.