Boomfox, personally I feel your argument doesn't hold water.
So if I could mate with a Gorilla and that would be fine? I'm pretty sure the babies would be healthy and not in any discomfort.
To me the risk of hybrids are the fact that certain hybrids which look too much like one parent will be sold as a "pure" animal, contaminating gene pools.
I also feel that guys are too trigger-happy. I promise you, your Black Ratsnake and Yellow Ratsnake will not make anything that you intend to keep; so why do it?
I have no problem with trying to create something cool and unique, using hybridization, but my problem is people wanting to create hybrids for the sake of creating hybrids.
To a small extent, one can predict the outcome of a pairing, so why pair something that won't produce nice babies?
To answer your other question, yes hybrids have been paired with other hybrids of the same type, and it seems to enhance any features of the hybrid, making second generation (f2) more sought after. Plus by pairing siblings of the same hybrid breeding you can get morphs into play.