I ran it for a while but I went back to BTCGuild.
You have to run a full blown bitcoind node. Latences between components (bitcoind, p2pool, internet, miner) have to reduced to a bare minimum. High latences lead to large numbers of orphans which in turn kills your profits. Other more efficient nodes will win more shares than you. I liked the idea of it, but I could not get my efficiences in order to make it make sense. So I took my 580Ghs back to BTCGuild.