Most bacon is grain-fed, so you're getting second-hand soy and corn, Round-Up and questionable other feedstuffs. Whether or not the additives bother you, they are definitely not paleo! I was eating three pounds a week, and it was AWESOME! But I know it's not safe in the long-haul, so I'm back down to a pound a week. Which I eat all at once. If you can find pastured pork belly and make your own bacon, that's best.
A few searches around here should bring up all sorts of fun bacon knowledge. You'll find info about how bacon is the form of pork that does not make your red blood cells clump together. You'll find out that nitrates and nitrites really aren't anything to be afraid of, even if they aren't paleo. And that some people are sensitive to excess salt while others are not.