@BlackenedPies: It would be pretty hard to convince me out of this.
The situations I often find myself in are much more chaotic; perfect engagements don't always happen especially if both teams are equally strong. I used to practice chem 100% of the time, but I ran into too many situations where I thought: "damn, an extinguisher would have been so much faster."
When an engagement starts, things will get disabled and damage will be taken. In the time taken to rebuild important components and do some repairs, chem will wear off. If the engagement goes smoothly and nothing else gets damaged you can run chem cycle. But in reality, more damage will be taken, chem will wear off, the hull and balloon might catch fire while you were rebuilding, other things will also get disabled. As chem has a longer cooldown and weak extinguish, it is less efficient when damage is taken.
I prioritize flexibility and optimal time management instead of maximum ship efficiency. I guess this is pretty similar to my gunning creed: "Prioritize hitting the target before optimizing damage."