I'll disagree and say no, it is not a good idea for two reasons.
First, anything other than a straight up and down chimney pipe is going to adversely effect the draft of the stove, and there's few things more important than good draft in the operation of your stove. There's a big difference between the draft on a calm clear night and one with stormy winds gusting.
Second, conventional wizdom today is that cooling the stovepipe/chimney pipe is a bad idea because the cooler surface is where creosote accumulates. Add bends that make it even harder to clean and you're looking at a chimney fire! A chimney fire can really ruin your whole day!
I'm an O negative, Aries, ISTJ, Rat.