I've done it before. It was all right. I had the front head off, and put it just sorta right in front of drum, not really inside it, pretty much right in the middle. Sounded pretty much just like what the drum sounds like in person, but I found that the sound didn't take compression very well at all, so it was hard to get a heavy modern sound with it.
Combined with a dynamic closer up it could probably do some good.