This is always a tough one, brides can go back and forth on this decision for awhile....and honestly from a wedding vendor stand point, we can all agree that receiving lines take A LOT of time...
So the question is, do you have one or not. I know that thanking each guest and making sure they have time to see you is very important, especially if you haven't seen them for awhile. So taking the time to greet each one before you go into the reception may seem like a good idea....unless you have over 200 guests, it then becomes an hour or more affair. I let my brides know that we can do the same sort of thing at the reception, I'd go around with them to each table photographing them with each guest, because I know how important photographs are!
That hour or more used for receiving line coverage can be put to use in other areas, like more time before the ceremony, or more time for bridal portraits with their new husband! Plus going table to table helps isolate the photograph, with the lines...everyone comes up at once and it doesn't always make for the prettiest photographs.
So remember when trying to decided yes or no, that there is another option. You can have dancing photos too during the reception, but you can also have those group photographs with each of your guests as well. (Saving time and creating better photographs)