Reasonable place to start, but of course it's not without its limitations. If you aren't looking for higher voltages or split rail, it will certainly do, but it's not necessarily a big leg up over other commercial starting places. A simple linear supply or something would be fine off it (though maybe the voltage is a bit high for a linear supply down to logic levels - just lots of power dissipation), and a switcher would give you better efficiency and power output, but is it better to use a laptop supply over a computer PSU or even a LED string PSU or something.... probably not.
If you just want a project and don't have the money for a different starting point.... why not!