Add bacon to your burger (or anything for that matter) and you too can enjoy white boy day. Bacon is like a hall pass that way. I have a grandpa sammich bout once every half a year. Its PB&J with thick bacon strips. Thats white boy day too.
I always thought the same thing. Alton Brown disagrees. The non-seared steak lost 13% of it's weight cooking to 140 degrees. The seared one lost 19% of it's weight. I do like the flavorful crust that searing gives though. http://www.foodnetwork.com/videos/to-sear-or-not-to-sear-98517.html
I love bacon but 50/50 seems like a lot. At a restaurant in NY was the first time I was ever asked how I wanted my hamburger. I do like it cooked on the pit until the smoke gives it that red color. One way you can tell if a joint is serving them freshly cooked or reheated is the presence of juice though. Not juicy = reheated.