Kez makes a good point - how many people will you have at your wedding?
If it's a small do then there's very little point but at bigger do's a receiving line can be a way of managing to thank your guests for coming and getting a few minutes with them that you might not otherwise have got.
We had a receiving line and although i'm not personally a fan of the idea, it did give me the chance to talk to people that I didn't see again all evening.
Personal choice and all that.....

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Saturday 16th June 2001 - St Catherine's Church,
Some people are like slinkies, not really good for anything, but they bring a smile to your face when pushed down the stairs