i think you got it backwards, i feel you should rest longer if your goin heavy. it only takes a minute for ATP to be restored into the muscle.....just take a min.
I rest between 3-5 minutes between sets. Lifting should not be turned into a form of cardio exercise. Weight training is anaerobic and thus neccessitates a very different approach to maximize the body's abilities. You have to regenerate ATP between sets in order to be able to handle the big weights. The more poundage you can handle the more stress you put on the muscle fibers thus the more potential for hypertrapohy. It all adds up. You want to be fully re-energized for your next set in order to train at peak intesnsity. ATP regeneration takes a few minutes, but it takes longer to recuiperate the nervous system between sets which is reall the key to training with intensity. The heavier you lift the more stress you put on your nervous system thus the more rest you need before you are able to operate that muscle at close to maximal effort. If you're training with anything less than maximal effort you are shorting your potential for muscular hypertrophy.
i think it depends on the exercise, i usually rest 2-3 minutes on compound movements and only about 1 on isolation or dumbell movements such as db press. also i rest more when working large bodyparts as supposed to smaller ones.