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The abscence of stress is death.
To me, absence of stress for a chameleon is a VERY good thing. It's not because what you said can be applied to humans that it is a good thing with chameleons...
For the most part, handling is not beneficial for your chameleon and yes IMHO may indeed shorten its lifespan. Especially if you remove the animal from its territory, invading its territory and grabbing at it (rather than letting it come out on its own).
A chameleon may tolerate handling, but this doesnt mean it isnt effected by it negatively. A chameleon may show no outward signs of stress that the holder notices, and still be stressed. Its not really easy to know for sure what effect you are having by handling the animal.
Some feel their chameleon "likes" to be held, but I believe many of those people are mis interpretting. Chameleons do not Like people; they just dont have the same emotions and social needs as people. They are natural "loaners". So why not just let them be what they are meant to be.