I'm doing it for the first time - but only because I bought a Wyesast Wit smack pak and want to get my moeny's worth from it.
I wouldn't bother if I was just using dried yeast in a brew.
I decanted the yeast from the bottom of the primary into two sterilised 1 litre PET bottles. I kept these at room temperature for a day with the lids on but not screwed down tight so that the yeast would use up more of the fermentables left in the wort. I then screwed down the lid, stuck them in the fridge and have vented them every couple of days or so, just to stop the pressure buidling up inside.
I'm hoping to re-use the yeast in a raspberry wheat once I've got the Wheat beer out of secondary and into bottles.
HTH
80/-