Personally, I love it. Been doing it since November and have had a good 10lbs. gain in muscle so far (no noticeable fat gains but I haven't measured).
It seemed to work well for Dave Henry (10th place Olympia finisher 2007). And, Dante has quite a few NPC and a few IFBB peeps doing it and loving it.
I don't think WG's ever done it, but I'll let him tell that story.