I've tested this tactic with Newcastle. In the Premier League, dominant. In the Capital One, dominant. In the FA Cup, dominant. I was offered a job for Manchester City, they wanted and needed this tactic.
It's very difficult for an opposing team to navigate or direct an attack through your rock-hard defense, as you technically have five at the back. It's also very difficult for an opposing team to defend your attack, with your midfield charging up the field and your target man holding up the ball. To get this tactic to work to it's full potential, is signing players according to the player roles (e.g. signing players that can play in as a box-to-box midfielder) and making sure you are making your players train in them player roles.
Overall, I wish you all the best of luck with using this tactic. If you have any questions, please comment below.