I started doing it, but to be honest, found it a bit dull, I think I have completed about 3 or 4 of the sections, haven't touched it for over a year.
I find something like Mark Cleghorn's site more interesting and easier to learn from, and all the information in the photography institute course is available online for free, I found the advice and information on here much more useful!
That's only my opinion though!
Dave