You'll find two extreme schools of thought on this, either ones that HATE it or those that LOVE it . Personally, I had success with the 8/16 hour daily split (leangains.com for more info) but the Brad Pilon method seems to be scientifically sound as well. I just never saw the appeal to not eating for a full 24 hours. I study biochemistry in college and I see a lot of benefits to this, especially when taking the right precautions. You can PM me for more info if you'd like me to break down any off the ideologies.
Ultimately, I think it comes down to YOU. Some people do it for the hormonal advantage, and others do it for the satiety reasons. Not everyone will benefit from this eating style, however if you've ever battled insulin resistance...you will find that this will probably prove to be effective. For most though, the difference is negligable.
