I have tried it but really don't care that much for the results.
My main complaint with the method is that there is not time for the desired (my choice) flavors to develop in the dough. In fact, I most often retard the dough in the fridge overnight to allow for more flavor development.
Sometimes, if I want a plain base with less flavor - to which I am going to add other ingredients - I mix the ingredients using only 1/2 the flour and allow that loose, semi-liquid "sponge" to hydrate and the yeast to develop before adding in the remainder of the flour after the first rise. I then allow for the second rise to develop at its own pace at room temp then after the dough is shaped and panned or couched for the final rise, I use a heat lamp suspended above the dough.
I don't go by time - I wait until the dough does not rebound when I push down with a finger. If a dimple remains, it is time to go into the oven.
The rule is "the stiffer the dough, the longer it takes to rise" so starting with a "slack" dough or a sponge can speed things up without resorting to overheating the dough, which can sometimes exhaust the yeast.