I love them, I have one and a couple of cartridges in my saddle bag at all times. I also have a pump on the frame of all my bikes for the same reason I carry a patch kit as well as tubes. The best ones have an adjustable valve so you can control how much gas enters the tube or only use part of a cartridge.
For best usage of a CO2 system you need to inflate the inner tube slightly anyway so that it doesn't pinch under the tyre as it inflates causing an instant snake bite. DAMHIKT.
Edit to add: I'm not a huge fan of those Jetvalve inflaters in
Halfords - my Dad has one and it works OKish, but it doesn't thread onto the valve so you have to push it down and this makes it a pain to use effectively, I'd rather use a pump. I've got a couple of inflators from
Wiggle which have proven pretty reliable - they both thread onto the valve stem meaning you don't need to hold the inflator onto it so it's easier to get started without losing half the cannister.
As with all things whatever you get practice on it before you leave home a couple of times. There are several websites you can get really cheap CO2 cartridges - I get them from co2cartridges.co.uk - you want the 16g threaded ones a pack of 10 is under a tenner - don't buy the bike specific ones they are massively overpriced.