I tried it once; it was incredibly verbose, generating an insane amount of files. I stopped using it because I was worried it would not be possible to rapidly, cheaply, and robustly update things as interaction with users generated new requirements.

The best way I have today is to start with a project requirements document and then ask for a step-by-step implementation plan, and then go do the thing at each step but only after I greenlight the strategy of the current step. I also specify minimal, modular, and functional stateless code.