No, its not "well accepted." Not at all. Its certainly dangerous for companies or industries with high debt, in the midst of unnatural bubbles. In that case, lower prices are simply a return to normal.
You need only look at the cell phone or computing industry to know your statement is not true. My present Apple 5S is now given away for FREE, whereas 3 years ago, It cost me $700. My didn't hundreds of millions of consumers simply wait a year, or two to get one? Why is Apple the most valuable company in the world if the price of their products are constantly declining?
Technological advancement lowering the cost of a few devices isn't the same thing as general price deflation, which is what you're talking about.
It really is generally accepted among economists that this is bad. The reason is simple. If prices for everything are dropping then it's smart to not buy anything now. If you wait, you'll get a better price.
This suppresses economic activity. Not good for anyone in the long run.
Why do you think central banks everywhere want some small level of inflation?