The other reason to wait is to allow the lids to seal while it's in the canner. If they are brought out while still boiling, then when they cool a small amount of room air may be sucked into them. I imagine this is minimal, but I'd prefer the air remaining in the canner to sucked in rather than outside air.
Maybe I'm being too anal, but I haven't had a spoiled jar yet.
I use a canner similar to Mike's in size, but it still has a pressure weight on it.