I tried it once, I wasn't very impressed.
I got the Pinacryptol in order to mix up one of Geoffrey Crawley's FX series developers, which requires just a tiny amount of pinocryptol.
What to do with all the rest? So, I tried desensitising a film.
I found it seemed to restrain the film speed A LOT and effected the development - so the eventual results were way off. You would need to adjust film speed and developement times to compensate anyway (well, with the film I used, can't remember what it was but probably Fortepan) and the resulting film had a lot of base fog, so either the pinocryptol creates fog or far more likely it didn't desensitise nearly well enough for a relatively fast modern film. Even then, it was only a quick peek - I didn't risk developing with the lights on the whole time.
Bottom line is, what should you see when you squint at an opaque, unfixed film, dripping with developer, in subdued darkroom light?
I had absolutely no idea, so it didn't help much.
I got the impression that it might have been useful for a slow 1950s glass panchromatic process plate - especially if the user had plenty of experience of developing 'ordinary' plates by inspection, but maybe no longer relevent for modern fast films.
I reckon you'd need to ruin a lot of film to learn what to look for before it was of any use, even if you could find a film / developer combination which it didn't cause problems with. Personally I never fely the urge to try it again.