Sure, as long as the person understands that they may never be like their idol.
Are you like your teacher at all? The martial art heritage, at least concerning the chund do kwan school, is directly descended from bruce lee, even Ip Man. When Bruce Lee altered his style of Wing Chun to improve TKD's high kicks, how do you think Chung Do Kwan gained its punching? Jhoon Rhee incorporated the handwork he learned when practicing with bruce to modify his style, and Bruce Lee did the same. It is arguable Bruce learned how to execute his high kicks from Jhoon Ree, but that is something of such debate I highly advise us not to go into it. I am a supporter of JKD, and my favorite and choice style of TKD is directly descended from Bruce. At some point you guys need to stop assuming I'm being arrogant, and consider the background a tad. I started martial arts because of the power rangers, and ultimately ended up at the school which trained the original red power ranger. But that character was as real, truthfully, as Bruce Lee was, who could not even publicly admit when he lost a defeat after trash talking the MA of sanfran.
I am like Bruce Lee, but I am not Bruce Lee, and I do not have his skill. Let's take the arrogance out of the equation and look at it analytically- he inspired one of the arts I've learned, his philosophy for combat I have learned to apply, I utilize not just kicks, or punches, but both, as he did, and he trained, in part, my master's, master's, master. But it's a lot like Americans claiming royalty... you look hard enough, you'll find a connection between yourself and practically anything. The only relevance Bruce Lee, to me has, is that the things he did which impressed and further martial arts in the United States, are worth learning for that reason. Did he grow martial arts? Yes. Was he good, yes. But lets take some of that myth out of the legend. He's not been dead THAT long.
And what exactly does this prove? Balancing on 1 leg, tossing out a bunch of kicks, well, as I said before, something will begin to suffer, namely power and balance. And if those 8 punches are sloppy taps, well...
There is truth in this. At least for the kicking. But I'm not going to do 100 kicks on one leg in a fight- but it will give me superb balance skills. There is a technique I practiced in Chung Do Kwan which has no defensive or offensive application, but is a technique. One is in a back stance, jumps, tucks their legs, and rotates completely 360 degrees. It won't save your life, but it will teach you how to say jump, and tuck. Not every thing one does, is going to be for direct reasons. I'm not learning how to kick like that because it's cool- I want to learn so I can maximize my flexibility, my balance, and never have to lower my leg unless actually forced to. Because 5/6 times the person im sparring is bigger and taller. Im more flexible and faster, so I do what I can.
Oh, BTW...what does any of this have to do with my OP? Are you saying that when someone can do that, they should be considered a master?
Because in our training it is good to have goals, both short term and long. The goal that during this week's sparring class, if my ridge-hand strike isn't very good, im going to work on it and get it down. I might get hit, but I'm going to focus on improving that technique. It's also good to have goals which just aren't doable- at least from the point of view then. When I conditioned with makiwaras, my goal was to eventually have the strength to strike concrete the same as it. As for punching, you'd be surprised how little the speed actually comes from your physical abilities. It's almost entirely mental, and based upon the technique. Hence why I can do 7 punches in one second; you just need to find what works for you to do the same, if it is something you are interested in.
To me, 100 kicks per legs is unnecessary, and a retardedly high amount. Unnecessarily. But what does that mean for my balance, which will be force to rise to the occasion? When we reach our goals, we must never become complacent, and instead seek to continue adding onto them, improving. To grow is to life, while to die is to never change. Bruce Lee once told a beloved student who complained that their workout might kill him at the rate they were going, and with a short response bruce replied, "Then die."
It shocked the man so much he not only completed their exercises, but did so with a determination borne from anger at what his teacher and friend had said. Later after training and they were showering up, he approached bruce and told him that what bruce had said to him had hurt him. Bruce apologized for hurting his feelings, but explained that theory on life and death. That while we might hit peaks and plateaus, we should never stay there. If our killing kills us, so be it, we gave it all we had. Given Bruce died not from his training but an accidental self-poisoning, the man really lived by that creed. If you can run a mile, start working toward two. There's no one else to beat, and no way to lose. When I compete against myself I find myself both the winner and loser, every time.
Goals are relevant, because when we step through the door, first we want to be like the black belts. Once there, if not already, we hunger to become teachers. And once teachers... well, a true martial artist is no longer hungry. They don't push to gain ranks, their teachers begin to approach them with the idea to advance. I used to think I wanted to be a master, but now I've come to realize that was something I had just made up in my head. It's impossible to be a master, to finish your training completely, ever, which is what many look at masters as being. But it is possible, when asked, to assist others.
IMHO, I think that alot of the time, the titles that we see, get over used. In other words, some people tend to think that if they have a fancy title, that somehow, that'll mean that others will look up to them, be impressed, etc. For myself, its not the title, but the ability of the person. 
