I recently started using Carbquik and overall, I'm pleased with it. I'm on a low-carb diet, and my dining options have really opened up! So far, I've made cheese biscuits, pizza dough, and pancakes. The pizza dough isn't great, but if you use the right kind of pizza pan and roll it thin enough, it's certainly acceptable and it beats not being able to have pizza at all.
Most low-carb diet authors don't recommend bothering with it. Even many of those who think a ketogenic diet is a good thing just assume that a very-low-carbohydrate diet (under about 50 net grams of carbohydrate) is ketogenic. On the other hand, many people have found that monitoring their ketones, at least for a while, provides valuable information.