I considered doing something of that sort recently. However, I worried about the fact that I might just be adding to the volume of web traffic (and perhaps even more than I intended if the phishers used some scripts to act on the bogus info.)
In addition, I've heard that there are laws against "interfering with an electronic system" (and that could very well be the case even if the system interfered with was used to phish.)
I may be incorrect in my thinking...I really don't know...I just had a bad feeling about it even though the phishing scams are extremely annoying. Just my 1.5 cents worth...
chas