Island is right that they are not efficient on fuel. Combine that with the huge amount of noise and they're not really suitable for commercial applications. The reason they were so suited to the V1 was that they are very easy to make withoout any high tech equipment and very reliable. Ideal for strapping to a large bomb and flying it over the English channel. The noise was probably part of the terror for the people on the ground once they got over England. Apparently you could hear them coming from a way off, but when the sound stopped that was the time to worry. At that point the missle was supposedly over it's intended target and the fuel had been cut off so it was on it's way down. The damn things were pretty fast and virtually impossible to shoot down. There were some interesting tactics used to down them. If I recall, the British used Mosquito twin engined fighters or Hawker Typhoons to intercept them, fly alongside them and tip them over with the wing tips to upset the gyroscopic guidance system. This was safer than shooting at them then having to fly through the wreckage apparently.
There are a few radio controlled pulse jet powered airplanes around...
...quite how you fly something like that at 230mph is beyond me!