I've used it and it worked very well for what I needed it for. A lot of it depends on what your application does. For simple apps it's great. More complicated apps that have a lot of support files, it becomes more problematic to use ClickOnce. Overall it works for what it's supposed to do.
If you're using it in a large company, I would expect that the company would already have some technology in place to update a user's machine with software (ex. SMS).