Well,
cost trumps.
My comment above wasn't shooting down the concept of reuse, but showing that the lateral range of the stage 1 Saturn V booster was pretty significant. To re-land at Kennedy, you'd likely have to:
1. Change the launch trajectory to gain more initial vertical range.
2. (Possibly) reduce the first stage size to decrease its range. This means increasing comparatively the 2nd and 3rd stage sizes.
3. Use of strap-on boosters (themselves independently recoverable) which would reduce the mass of the remaining recoverable stage 1, and hence the momentum that would have to be re-vectored to KSC.
And while reusability is good, it's a bit like Amdhal's Law: your initial gains are the biggest, and likely you're going to see a cost function something like:
(fixed booster cost + reusability engineering cost) / reuses +
additional fuel cost + refurbishment costs + launch risk
The first two elements are going to decrease with reuse. The reusibility engineering costs will likely themselves be a function of reuses. And at some point you are below the increased incremental fuel, refurbishment, and launch risk (failure) costs.
Which doesn't say that the exercise is futile. Only that past 3-4 reuses you're gaining little for what's likely a large additional expense, or phrased differently, there's a minimum cost if you want to go to space today.