There's a difference between things that programmers actually do, and things that they recommend others do.
I know of lots of programmers (myself included) that actually use this method. It only really helps to find the most obvious of performance problems, but it's quick and dirty and it works.
But I wouldn't really tell other programmers to do it, because it would take me too long to explain all the caveats. It's far too easy to make an inaccurate conclusion based on this method, and there are many areas where it just doesn't work at all. (for example, that method doesn't reveal any code that is triggered by user input).
So just like using lie detectors in court, or the "goto" statement, we just don't recommend that you do it, even though they all have their uses.