It is quite practical, but does have its own challenges. Each drive can store 63 item types, max. Even a 64k drive can only store 63 item types. This gets to be a problem when you fill up one drive, an item on that drive gets dumped into the network and placed on a second drive. Sure, great that you don't overflow. but when you use a bunch of that item it pulls from the first drive so now your item is taking up 2 slots on 2 drives. There's no easy method of consolidating the items onto a single drive.
EDIT: Actually, one other thought I wanted to add. I really, really, REALLY like the power costs associated with it. I have always been one of those people who doesn't use a lot of power. My normal setup normally can get by with an 8LP or 12LP boiler. The largest I've ever build is a 36LP and I've never used the max of that as it is.
There simply isn't enough in the game that requires a constant draw so I end up using RECells to cover by burst needs quite nicely. I've gotten so adept at it that in my current world my power generation went like this. 2 Hobbyist engines -> 1LP feeding 2 hobbyist -> 36LP now an array of hobbyist, commercial and industrial engines. Yes, I literally went 3.6Mj/t, 4MJ/t, 72MJ/t.
AE changed that. The larger the network, the larger the power draw. For the first time since I started getting into boilers regularly I'm at a point where my boiler, the 36LP, isn't keeping up. It is because the constant draw from AE is chewing up enough MJ that by burst usage is outpacing the constant generation from the boiler over the long run. I've actually had to decide if I want to expand my power generation or take a serious look at my AE network and see if there's some cruft I can trim to bring its constant draw down.
This is an interesting event because I've dropped Forestry. That means no useful, renewable liquid fuel. The prospect of a 36HP boiler is daunting. The 36LP was interesting to heat up using only charcoal, wood, coal and coke (in that order). Now that it is at max heat I can keep pace with my 1 Steve's Carts wood farm. But a 36HP on solid fuel? I'm not sure I have the fuel on hand to get it to max heat, nor am I positive that the one tree farm would be enough. On the other hand, I'm curious to see if I can make a sustainable 36LP liquid boiler work on just Creosote. And even though I was convinced to move from charcoal to wood on my solid boiler the idea of having a solid and liquid running off of a bank of coke furnaces using wood as an input appeals to me.
All of that because of AE using power as a balancing point. Glorious!