I had it done three times
The first time I went to a really "froo-froo" salon that charged me $800 and RUINED my hair. It was falling out in chunks and I had bald patches underneath. I would have sued except that they made me sign a release form before the precedure stating that they weren't responsible for excessive damage (that should have been a clue, but alas, I am sometimes as dumb as I am vain).
The worst part is that the new grown was ultra-frizzy and I ended up having to do a TR twice more just to calm the growth down enough to match the rest of my hair. Luckily, I found a really great stylist who charged me less than half of what I had originally paid. I had the Lisco service and, unlike the stylist at the first salon, he processed the solution without heat. In fact, he told me that the Lisco reps told him to never process the solution with heat, so that's probably how my hair wound up so fried in the first place.
As of today, my hair is below my shoulders, wiith subtle highlights, and I only have about two inches or so of the old TR. You'd never know it, though, because I've found that with the proper products, a Chi iron, and a little bit of patience, I'm able to get my naturally curly hair just as straight as the TR'd ends. Plus, it actually looks better because it's much healthier now. Besides that, when I finally grow out these last couple of inches I'll have the option of going either curly or straight. With the TR I had no body, and my hair wouldn't hold a curl no matter how much product I attempted to apply.
So no, I wouldn't do it again.