Alternating antagonistic muscle groups is a better idea, as someone said above. IE Incline Bench rest 30 sec, Chins rest 30sec, etc. instead of just doing straight incline bench press with 60 second rest periods.
If you are looking to get into better shape, burn more calories or whatever, gradually decrease your rest btwn sets while using the same weight/reps. Week one, use 60 sec rests, week 2 use 55 sec rests, etc. until you are doing like 20 seconds between sets. This will get you in shape like a motherf#cker, as well as stimulating your CNS in a different way than taking long rests.