Yes, it has worked for us.
Started with DD when she was 6 months (wouldn't have attempted any younger than this).
Like you, she had been pretty good at settling down for a sleep after falling asleep on the bottle.
Then from about 4 1/2 months she became more and more difficult to settle on a night. It was sometimes taking us until about 11pm to get her to sleep.
I started controlled crying (checking that nothing else was wrong with her) and after about 5 days it had started to work. I never left her for more than 15 mins without going back in but after a short amount of time she would fall asleep within 5 minutes.
This also coincided with her sleeping through the night (approx 12 hrs).
I'm aware that there will be blips along the way - teething, illnesses etc. and we may have to start the process again but really we were at the point where we felt that we had no other option.
Having said that, we were quite lucky in that the max she ever cried since starting CC was 30-40 mins. I probably couldn't have stuck it for anyone longer than that.
It is also now working for daytime naps too. I can put her in the cot awake when she seems tired, she may cry for about 5 mins but then has much longer naps (approx 2 hrs).
We've only been doing this for 2 weeks but we all feel much happier and DH and I feel that we have a bit of control back.
DD is also a lot happier during the day as she is getting the amount of sleep she needs when she needs it.
Hope this helps.
I know this is a controversial issue and a lot of people will disagree but this is my experience and I'm happy with it.