Great timing, I just tried my friend's thousand dollar Fender Tele, its a REALLY sturdy guitar but my friend has REALLY low action on it, less than 2mm. I thought I'd love low action and that my speed would be great on it.
The thing is, while my playing did feel a bit more fluent, the speed didn't change. I realised today how much I love medium action (2mm) as I've got my ESP M-II set up.
The action like the one on the Tele I was talking about was too low for that guitar and that low action does require a dampener of some kind. Because in all honesty I couldn't mute a single time I tried to play a shred lick. No speed picking, no legato, no tapping, no sweeping, I could do nothing without the dampener. The other strings would ring out too much, even when I tried muting with my fret hand.
Frankly, the thousand dollar guitar felt broken without a dampener and trust me, you don't want that feeling on any guitar, not just expensive ones.
So yeah, IMHO if you have extreme micro action, you definitely need a dampener. Andy James always uses a headband when he's tapping, but everything else he does is without it.
Hope that helps