I use it, used correctly its good paint.
You have to take into consideration that unlike car paints which are quite thin in the spray can, Plasticote is a heavier paint, the nozzle on the can has a larger orifice than a car paint to take the extra density into account. This can mean that some people have trouble spraying it as it comes out as a very thick coat of paint - especially if you don't release the button at the end of each stroke. It can take some getting used to if you have only used car paint in the past. I like the clear coat over everything once any other paints have been applied, only because it seems to be a harder more durable paint then car paints.
Don't forget car paints are either cellulose (hard to find nowadays) or synthetic cellulose. Platicote is an acrylic/enamel. You can spray Plasticote on top of car paints but not the other way around or you will get a reaction.