Yes. It works great. I do a lot of walk-in wood duck hunts in flooded timber. I like to get out there EARLY to make sure I'm setup where I want to be and have first dibs. I generally wear my waders and saddle in, and use what is usually my linemans as a tether. This, a small waist pouch for shells, and a mesh backpack with a dozen dekes is all I bring. Fast, light and mobile.
Getting there at 3am means I have 3 hours until shooting light. It's nice to be able to rest in the saddle. A chair is impossible to use, but a saddle can be used even in waist-deep water if necessary. I just throw it in the dryer when I get home. It's very easy to swing and shoot, and you can easily unclip if you need to move. I squirrel hunt this way as well.
Obviously this only works if you're hunting timber. If I'm in a marsh, I just sit in my kayak