Fighting Back Against the Man

Ever since I was a kid, I've been bailing people out of trouble, fixing things that aren't broken, and generally being the hero. But here's where it gets tricky: my boss at work is an absolute stickler for rules, to the point where he makes them up as he goes along just because he can. Last week, we were about to go live with a project, but his nitpicking about some tiny detail nearly made us miss our deadline. I couldn't take it anymore and gave him a piece of my mind right then and there in front of everyone. The team was shocked at first but quickly clapped for me, and things have felt more relaxed since. I know sticking to the rules is important, but so is doing what's best for the project. Am I the only one who sees this? Should I maybe lay low until he cools off, or is it okay to stand up to a boss like that?