Yes I did my PGCE with the OU and found it very good.
There are a couple of down sides
It can be a slow process getting your two schools (where you see teaching practice) sorted. Schools may be reluctant, because the paperwork for the OU is even worse than a 'normal university!
You have to be a little more self motivate, as there is less day to day direct support for you, but there are internet chat rooms you can use etc etc, but nothing quite as direct as having a chat with other students over a coffee
Positives
You can do the academic stuff in your own time, as it is all on line, and there are no lectures to attend, you are assessed by portfolio.
You have three blocks of teaching practice, which increase in time as you go further into the course.
You can take up to three years if you like, and you still get the same overall grant funding and benefits
95% of the kids I teach are fab, 4% are easily led but quite manageable, as long as you have a strong personality and a good sense of humour. 1% need to be in a more appropriate school (EBD)
I love this job, going into teaching was the best thing I ever did, other than marry dh and have the kids!
It isn't an easy job, I started work this morning at 8, got home at 5.15 worked through lunch, and I still have a set of books to mark tonight, and some A level questions, which will probably take me another 2.5 hours. But is it a great job.