I'm a hack welder so take that for what it's worth.
On horizontal welds that I want good penetration through I have started to pulse weld with a higher heat setting. Count to 1.5-2 seconds, let off until my auto helmet goes light, then pull the trigger again. This gives me the tell-tale bump on the backside showing full penetration versus running a single bead where it continues to build up heat until it blows out the end.
I take that same approach going vertical so I don't simply run hot slag out the V as I work up the joint. Seems to keep a tighter bead for me and better control. Penetration seems to be plenty strong and I wouldn't say I use any more wire this way. It may be a tad slower welding since I'm on and off the throttle, but there is minimal clean up since I haven't built up a bunch of metal so overall a wash for me.