I used it about 5 years ago in an old (early 50's) portable welding machine. It had a continental inline-4. It seemed to really cut down on the amount of blow-by entering the crank case, it ran a lot stronger under load, and I found no bad side effects even years later (just sold it last year and it still ran great).
I have no idea how well it would work on newer cars with tighter tolerances in bearings and such, and if it could gum stuff up there or cause problems.
I don't usually have a lot of faith in 'pour it in, miracle cures', but I wasn't looking forward to finding parts (or paying for them if I did) for something this old, and it got good reviews from the auto show that was on PBS at the time. So I gave it a try. No complaints.