Yes, according to Cook's Illustrated, this is why you'd flip -- you get the rendering fat from the dark meat to flow down to baste the breast, then flip it over to finish browning and crisping the skin on the breast meat. But it should still be juicy and tender, even if you opt to skip this step.
Interesting question -- it probably does help the air circulate around the bird (as long as it's on a roasting rack). Also, in his various articles about turkey, Russ Parsons has sounded pretty flexible about the flipping (he initially called for 2 more quarter flips to brown the sides, but got over it). So if you don't feel like doing it, don't worry about it!
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