No, not based on my experience. Ignore losses will cause you some horrendous losses on some battles, and will also cause you to have many more early turn endings. (Especially with high prof. units, such as the Germans, and certain Allied units; or in special cases with armor involved).
The majority of my attacks are done on min and limited losses. Min losses are done to (attempt!) to ensure that I don't suffer many 'continues attack' results (which, at best guess, causes 10% turn loss each time it appears). Most attacks which are not vital or phase sensitive (ie - not attempted breakouts, etc, which are very phase sensitive) are done on min losses.
All defence is done on ignore losses, excepting such cases as ant partisans, and severaly weakened units which do not reconstitute and I am attempting to preserve, but cannot withdraw to safety.