Greens rolling is used widely for a host of reasons. As to being hard on turf or increasing compaction, Michigan State University did a great study on rolling with respect to green speed, turf quality, and compaction. Rolling greens upwards of 20+ times a week might begin to decrease turf quality, but would still have minimal impact on compaction. This study used both dedicated greens iron type rollers and triplex vibratory style. Their conclusions, if I remember right, was that regular rolling (4-6/week) shows increases of 6+inches with the triplex type rollers and 9+ with the greens iron types.
My courses have snow cover for 5+ months, I really rely on rollers from around Labor Day onward. By rolling daily, but only cutting 2-3 times per week I can maintain speeds of 9 - 9.5 and raise my HOC to 0.140in. By having more above ground turf, I feel it helps the plant store carbs for a very long winter.
Remember, greens speed are not as much of a function of Height Of Cut as much as Firmness and Smoothness and Fertility.
I think more and more GCS's are using rollers in order to maintain turf health while still being able to achieve the need for speed...
hope this helps,
MH