I coslept with mine when they were little. On the 'breastfeeding frenzy' nights, I definitely got more (i.e. some!) sleep than I would have done had we not coslept.
As a longer term option, though, I agree with the OP. For me, co sleeping was the preferred option when the alternative was no sleep at all. Most of the time though I much preferred having them in their own basket/cot and getting out of bed to feed them. Reason being that I never slept well whilst cosleeping. I move around a lot in my sleep (ie sleep on my back for a while, then move onto one side, then the other, etc etc) which you can't do when cosleeping. You have to lie still. And having to lie still on one side all night to ensure baby slept safely was something I found very uncomfortable. I used to wake up feeling exhausted and stiff. Awful. Some mornings I would actually feel like I'd done myself damage!
By the time DS3 was 4/5 months I found that I got much, much better quality sleep if I put him in his own cot, and went to his room to feed him. He might wake 2/3 times, but feeds would be 10 mins max, and I would fall back to sleep straight after and have bursts of good, comfy sleep. If we coslept I might sleep for longer, and not have to physically get up, but the quality of sleep was appalling.
I think a lot depends on how you sleep as an individual tbh. I could never have been a long term cosleeper.