Althou historically most people think ultra low pressures are cool...there ARE drawbacks asside from retaining the bead (which can the negated with beadlocks)....
When we ran the night stage of TTC we had about 5-6PSI in the 36" TSL's - BUT the problem was this didn't protect the rim from a big hit, whihc then bent the bead ring and unseated the inner bead in a rather unpleasant situation......
We aired up a bit for some of the other stages because we knew we had a tyre size penalty over most of the other competitors.....especially in the mud.....So whilst a lower than 6 PSI gives us a nice bag, we also lose a lot of valuable clearance.
Then there's the offcamber stuff, sidewall flex can mean the vehcile can move a fair bit sideways when you probably don't want it too......
Lastly with some of the current techniques theres more right foot to generate traction via warm rubber - I suspect with slightly more air this is easier to achieve......
anyhows just my ramblings