You could even say that's the ideal way to play the game. Play five characters, Play 5 characters, keeping them all around the same level. Whenever you find a good item, use it for one of your other characters rather than selling it on the AH. That way the stuff you get should be about as useful as what you would've gotten on the AH in the end, and all your characters should have good gear.
--
All the stars in the sky are waiting for you.
Diablo 3: DarkMac#1527.