I'm doing it. I wanted to start right from birth, but what with one thing and another we didn't get going until my DD was about 3 months old. The first month and a half was hard -- I felt totally clueless a lot of the time, and we washed a LOT of nappies. If you change every time the baby wees, you will use a lot more than people who do conventional diapering, even if you're catching 50% of the time. Most people just have no idea how often their young infants pee. No idea. It can be every 10 minutes for newborns.
Anyhow, a few weeks ago I started keeping a log of elimination, and suddenly things improved dramatically. I had a much better idea of what was going on, and oddly felt more relaxed about it. Around the same time, her pattern changed and she was peeing less often, which I think has something to do with the kidneys maturing around 6 months. We've gone from using 18 nappies in a day to using about 6.
Doing EC is much easier if you live in the countryside, where you have lots of outdoors space that's not too crowded. Finding a place to potty while out and about in a city, especially if you don't have a car, is quite a hassle, but if you're taking a walk in the woods it's kind of fun.
So, I'm still fairly new to it, but now I have a 6-month-old who has some bladder and bowel control, and I understand more of what's going on with her than I would if we weren't doing EC. For instance, when she has a poo coming she can be quite fussy for about half an hour beforehand. I think it's helping me understand a wider range of what she's trying to communicate outside of elimination issues, too.
One thing I worry about, though, is what will happen when I go back to work, and she's still considered too young to potty train, but that's still a few months away.