My horses didn't like the pressure on nose. They both preferred the bit. As already stated it greatly depends on horse, discipline, and training. If you can control your horse with halter just fine, and you both enjoy it, and you don't plan to show, then why not?
"Life isn't about waiting for the storm to pass: it's about learning to dance in the rain..."
"When we are no longer able to change a situation - we are challenged to change ourselves."
"How people treat you is their karma; how you react is yours."