- The command's output (to stdout and stderr) won't be redirected anywhere.
- The command will be executed in the background.
- The file will be truncated, if redirecting to a file and not using >>.
Are the characters saved worth those effects? I don't think so. Just use this instead: "> file 2>&1". Make sure you get the first redirection right, "&> file 2>&1" isn't going to do the trick.