The AHJ in our area permits this type of installation in areas not sheetrocked. They do however require that in those areas such as garages where the romex is run horizontal that a protective wooden strip be nailed up in front of the romex referencing (sp?) 334.14 (b). We normally run the romex vertical along the stud, through the top plate and back down at the next location thus avoiding any questions and overall a neater installation.
