For small diameters, the strength of gravity would vary at different points of your body depending on their distance from the axis of rotation, with the result that you would be slightly stretched. The main problem regarding feasibility today would be the difficulty of constructing a large space station that had sufficient structural strength to remain intact under the simulated gravity. The international Space Station is above all a human physiology research facility. Before we can ever hope to explore the solar system, we first need to know what effects long-term exposure to the hostile space environment will have on the human body. We already know that in the absence of gravity we see rapid changes in such things as bone mass and muscle mass.
Radiation poses unknown hazards as well.
Aboard the Space Station scientists will try to sort out the attacks and possible countermeasures. They will also carry out important microgravity research. Any attempt at artificial gravity would turn Space Station into little more than an observation platform. Once we have the answers we seek, we may find that it would be beneficial to use artificial gravity for long-term travel in space. Or maybe not.