what happenes if the distributor is with the subsciber than publisher in sql server 2005

I have a small question in the process of replication we set up publisher,distributor and the subscriber.As a usual practice we do set up the distributor with the publisher or seperately by itself.So my question is can we set up the distributor with the subscriber than publisher???...does this anyways effect the server performance....or will there be any other issues that will arise in the process of replication
Thanks in advance