Not if you want to protect your head. That's why I think $400 helmets are bogus. Stick with a decent, albeit heavier helmet, and replace it regularly. It'll smell less, and if you ever get in a serious accident (God forbid) you're chances of surviving are so much better.
It's what's inside the helmet that matters, not what's outside!
It's what's inside the helmet that matters, not what's outside!