If you are talking about a pistol grip without the buttstock, it's not a good idea. You don't get the control and stability when firing if you are using a true pistol grip.
If you are talking about a pistol grip with a buttstock, that's pretty much personal preference. Oddly enough, the hand grip portion of a shotgun buttstock is referred to as the pistol grip.
The recoil reducers are cool and tactical, but in the event of clearing a jammed hull, slamming the buttstock on a hard surface won't work. The energy you are hoping to open the action will be absorbed by the energy reducing stock. That should be a rare event, but my first shot out of a brand new 870 Express Super Magnum did just that. I disassembled it and used a rod to get the stuck hull out. If I had been in a home defense situation, without the possibility of transitioning to a sidearm, I would have wanted to slam it on the floor.
I put a Magpul stock on my 870 SM, and it's really sweet. It has spacers to customize the length, and parts available for a higher cheek weld. I'll also use it for skeet, so I will be more accustomed to it.
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The Revolutionary War generation gave us a republic. The WWII generation gave us a socialist democracy. The Gen-X generation is giving us Communism. Which do you think is the greatest?