It works very, very well, two handed with a single pellet air pistol. I've never tried it with a cartridge gun but I think it should work as well or better than a weaver stance if you got the grip right, bracing the left elbow into the chest and resting the right hand on the left hand.
As far as loking stupid...it simply can't look sillier than the FBI crouch
I may get out the 45 and try this weekend (early, when there are no witnesses
)