I know of at least one general discussion on using GOTO (Would you use 'goto' here?), although I would guess there are likely more buried around here somewhere.
I can see your use for it, but would be concerned that the way you coded it could perhaps cause an endless loop (although I will assume there is additional code that was excluded from the example to prevent this). To me, though, both are about equally as readable.
Just my opinion, though, and I look forward to seeing the responses of others regarding the issue.
Update: Actually, looking at both solutions, both tend to suggest that a continuous loop might be possible (or am I reading those wrong?).
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