Go lift a fully dressed winch with a receiver plate attached a few times and you'll see the biggest problem with this setup. Winches are freaking heavy, and the mounts aren't light either. Add to that the fact that generally mounting like this causes the winch to stick out really far, and often really low and that means you basically can't wheel with it in place. That mean finding a way to secure it inside the vehicle, which isn't that easy. What's more difficult is getting it out when the rig is at an odd, steep angle and trying to get it in place, assuming that the front bumper isn't obstructed in some way.
Nearly everyone I've seen do this has hated it and changed to a normal winch bumper.