If you are sanding on the floor yes. On the water, no. The ground is flat, when you cut on your toes the water bends to fit your board.
Heel lift. That is an interesting discussion. How do wakeskaters keep from getting heel lift? Or surfers for that matter--those guys really slash.
I have had some sloppy plates on bindings espcially on some of the old 8" wiley bindings, but I can't ever remember being on the water and thinking, "Man, I just can't set an edge because heels are lifting."
A lot of bindings have been sold under the promise of minimized heel lift--does it really matter that much?