I'm well known for implementing this in our little home games, I usually do it when I straddle, but on occasion as a bb defend. At a slightly higher stakes home game I attend, I usually start doing it towards end of night if I'm up and we get down to 6 players. Has set up some ridiculous hands, and I'm usually quite successful.
For starters, I never raise when I don't look, and I always announce it honestly, though sometimes not until I've looked. My rule is to wait until the turn to look, so generally I'll check-call the flop unless the betting gets crazy. It's a judgment call if I feel the need to look earlier. On the turn, I'll continue checking until faced with a bet, at which point I will look. But of course if no one bets, we get a free river. At which point I will look regardless (since I'm usually first to act in these scenarios) - because on one hand it might be fun to flip over random cards if it checks around, but it's even more fun if it turns out I have the nuts.
Craziest no look hand happened exactly a week ago. Small game, 25c/25c, though I was pretty deep with like $250 in my stack. I straddled for 50c, UTG raises, another 2 players call, I call. I don't remember bet size, but it was pretty standard.
Flop is AK7 two diamonds. I check of course, UTG bets, second player raises, third player cold calls, and at I decide to look because I knew someone was strong. I look down at KK! I raised it to $25, UTG calls, second player goes all in, thirds folds, and we both call because the all in wasn't enough to reopen action. Turn is J, I put UTG all in for like another $5, river is a brick (diamonds never get their either, we all assumed someone had the draw).
UTG (and I had a feeling) flips over AA. Second player had something like A9 with no draw, third player that folded had JJ! So we potentially had set over set over set. The thing is that playing it no look influenced the preflop action, because I think it would have been preflop all in between the AA, KK, and JJ hands. The A9 would have gotten out of the way and the JJ wouldn't have been able to fold.