Tire pressure

I run at the recommended 36/42 psi tire pressure. Recently I have heard a lot of talk about going down a couple psi on each tire, even as low as 32 psi/tire. Been told this will increse tire traction in a straight line and cornering, while decreasing tire life and economy. Seeing that I would rather be safer and more confident with better traction, while only sacraficing having to buy new tires a few months early, this is appealing too me. What do you guys have to say about ecreased tire pressure for increased traction?
Thanks