It is my go to technique in the heavily fished western rivers. The reason is that almost everyone fishes with strike indicators, and I think the two methods target different fish. So I can fish a section that has been fished and still take those trout that the indicator method misses.
In the Ross Merigold hole of the Madison, a husband and wife were fishing to a nice rainbow that was feeding behind the boulder. They could not catch it, but the fish took my fly on the second drift with the Euro style of nymphing.
The methods are complimentary.