It has worked flawlessly for thousands of miles. When I change the regular filters every year, it looks like they had just been in for a couple of weeks.
The only problem I have had was early failure of the Walbro polishing pump. It is rated for fuel polishing use so that is a mystery. The replacement is still going strong after hundreds of hours more service.
My system violates several conventional wisdom points such as having a common suction for both the polishing system and the fuel system and returning fuel to the fill lines. My Yanmar does not have a return line as most diesels do. The excess injector fuel is simply returned to the engine mounted filter. A diesel with a fuel return line to the tank might have issues if piped up like mine so some careful thought should be given to the system design.
If at all possible, you should have separate suction and return for the polishing system. The polishing return should have a dip tube that discharges the fuel at the bottom of the tank to help keep stuff stirred up.
Full details of my installation can be found here:
http://www.cruisingonstrider.us/FOpolishing.htm
If I were building a new system, I would give some thought to installing a larger tank like the one described here for my heating system:
http://www.cruisingonstrider.us/10Winter.htm
This tank would then gravity supply the engine. This would be a solution for a situation where additional suction and returns could not easily be added to the main tank.
Since the boat would be dependent, beyond the capacity of the gravity tank, on a single pump for fuel, I would probably plumb in a back up pump in parallel as is sometimes done with filters.
I just checked the little vacuum breaker valve described which is the original one installed and there was no sign that fuel had ever reached it. It looked as good as the day it went in since the air bubble in the riser tube protects it.