Why shouldn't you perform it if you figure it out. Tricks and magic wouldn't evolve if people couldn't see past the illusions every once in a while and maybe even preform them. If everyone who could figure something out and they still did not preform it then eventually there would only be a few people who could even create magic without having somehow taken someone else's idea. Just preforming doesn't do any harm. However, if you said that you were the one creating the trick then there would be a problem.
It is absurd to argue that magic only progresses through figuring out someone else's creations and then performing that effect. Think about what you are saying... figuring out the effects that other people have created and then perform them will help you create effects in the future? If you already knew the slights necessary to perform the effect, why didn't you come up with the effect yourself? I suspect the reason is because you lacked the time, creativity and/or experience to come up with the plot and the patter.
I'm not saying you shouldn't use slights that others have developed. Most of what we know is built on the slights developed in the early 1900 and perfected / explained by Grant, Vernon, Annerman, Hugard, Braue, Erdnase, Scarne, Buckley, Hull, etc. However, if someone has taken the time to test, perfect, produce and distribute an effect (slights, plot and presentation) then it is the right thing to do to buy that effect before performing it.
Crediting an effect is an altogether different issue. A performer does not need to credit an effect (which they have paid for and have the rights to perform). In fact, that is absurd... "I'm going to be performing an Ace assembly originally developed by Vernon followed by a Card to Mouth routine by Dan and Dave with a twist at the end using a Mercury Card Fold developed by Hugard and Braue." Naming the effects you are doing only encourages people to use Google to try and figure out how the effect works. Full and complete crediting is only required if you are selling your effect.
What would happen if everyone figured out every effect that has a preview video? I think the result would be that nobody would produce any more effects for sale. We can all agree that is a bad result. If it is a bad idea for everyone to do that, what makes it a good idea for a single individual to do it?
Sherlock is right in that "the high road is more difficult, and the path less taken." But just because something is difficult it doesn't mean we shouldn't do it.
A final word of advice... If you deconstruct and then perform effects without paying for them, don't mention it at your local IBM or SAM meeting. You will lose your credibility with every magician in the room.