I learned it just this last semester in college and it worked great for me. I know that by following it to the letter I can be confident I can hit Compile and won't have any errors and by hitting Run I won't have to spend time anymore fixing and re-compiling the program to run it again and again till the mess is fixed.
People complain about having to record the "missing semi-colons" and such but by the time you're on program 7, you're no longer making such trivial mistakes and instead your defects are found in the important bits of your program. I have not had the opportunity to apply it to a real scenario though but im really looking forward to!