The idea is to strike a balance not only with fragmenting and the MTU, but also with regards to lost packets. In the past, when fragmenting caused a much larger hit, setting MTU at a lower setting was more optimal.
Where your theory will bite you is when you do start losing packets. The larger your window, the more painful it becomes. As long as your line stays consistent (ie, 4384 continues without lost packets), you might be safe to leave the MaxMTU setting this high.
The safety of this decision is more a factor of the type of connection technology you are using.
One other thing. Adjusting your settings to an overly high rate, while beneficial to you, could also have a negative effect on others, esp. if your connection starts having lost packets and, therefore, resends.
If you are planning on this type of setting, you need to monitor from time to time to ensure your line is consistent at this size.
Gregory A. Beamer
MCP: +I, SE, SD, DBA