Like everyone here, I tried using it when I first got Creative Suite but didn't have much use for it. As our office expanded I saw the need pretty quickly.
Now, Version Cue is installed on our server and everyone runs Bridge connecting to Version Cue on the server. It works pretty well. Everyone's My Documents is also redirected to the same server (yeah, we're a PC office) so the indexing and transfer is really fast.
Unfortunately, we grew too fast and everyone began to run projects outside of the Version Cue administration, so now we have to retroactively sort everything again and make sure everyone is synced up. It'll probably take a full day, but it will pay off in no time. I enjoy not being tied to the office, so if another designer or developer needs to access a .psd I created they always have access to it.