In athletic terms, you sometimes have take one step back to move two steps forward. Whether you are a weekend warrior or aspiring "pro", there comes a time when you just need to take the foot of the accelerator otherwise you are inviting illness or injury as well as the subsequent layoff.
Rest days or rest periods are always better if they are premeditated. Instead of taking a day of because you feel like you're on the brink of exhaustion, voluntary periods of less exercise can pay off in the long run.
Health and fitness guru, Mark Sisson, outlines this subject in a broader sense on his blog. Click here to read this great post.