Depends on the macros, if they have wait times in them, you are probably doing subpar damage. If they are GCD moves with off CD abilities "hidden" behind them, or stacked off CD skills, then they can make you more efficient.

Some of the macros I used leveling lancer/dragoon:
Quote Originally Posted by Stun
/micon "Leg Sweep"
/ac "Leg Sweep" <t>
/ac "Spineshatter Dive" <t>
Quote Originally Posted by Vorpal/Attack Buff
/micon "Vorpal Thrust"
/ac "Vorpal Thrust" <t>
/ac "Blood for Blood" <me>
/ac "Internal Release" <me>
With using those macros, I had a hotbar just above status icons with everything on macro, so I had quick access to see which ones were ready for use at any time.